Knights has advised on the sale of The Ridings shopping centre in Wakefield, following Wakefield Council’s acquisition of the site as part of ambitious plans to transform the Wakefield city centre.
The deal is a significant milestone in the proposed long-term regeneration strategy of Wakefield city centre, with the Council’s plans set to pave the way for a new Cathedral Quarter focused on leisure, living and events.
Supporting Wakefield’s Regeneration Vision
Wakefield Council’s acquisition of The Ridings is intended to unlock long-term major redevelopment opportunities in the heart of the city, including new homes, improved public spaces and enhanced leisure facilities, helping to support Wakefield’s future economic growth and increase city centre footfall.
The redevelopment forms a key part of wider efforts to strengthen Wakefield’s position as a dynamic and attractive destination for residents, businesses and visitors.
Advising on a Landmark Transaction
Knights acted on behalf of Ridings Ltd 2023 in the sale, supporting the client through every stage of the transaction.
A spokesperson for the seller commented: “Working with Knights was a dream, and the entire process was handled very professionally”.
Andrew Price, Partner at Knights, added:
"It’s been a privilege to be involved in a sale that will have such a significant impact on the future of Wakefield, providing a new hub for residents to enjoy. Our team was delighted to be able to support our client to secure the sale, working closely with them and the council throughout the process, and we look forward to seeing the positive role this development will play in the city.”
Knights continues to advise on complex commercial property transactions across the UK, supporting clients in delivering projects that drive regeneration and long-term growth.