Wakefield Council has finalised a deal to buy The Ridings Shopping Centre, paving the way for a major city centre regeneration scheme.
The council and centre owner Zahid Iqbal confirmed on 21 April that a deal has been reached and contracts are to be exchanged shortly.
Mr Iqbal said: ‘I’m pleased to have reached a fair and reasonable agreement that reflects the centre’s market value. Now is the time for change and a new chapter for the city.’
Tony Reeves, the council’s chief executive, added: 'We’re confident that this deal reflects both the work of the owner with the shopping centre and provides good value for the public.
‘We’d like to thank Mr Iqbal for getting this deal over the line and enabling us to provide certainty for residents and businesses affected. We can all move forward now and give our city centre the long-term future it deserves.’
