Public invited to acquire shares in UK’s ‘first community run shopping centre’

A vacant Victorian arcade in Dewsbury is set to become the first community run shopping centre in the UK, with a fundraising campaign to launch this week.  

The arcade has been vacant since 2016 following several years of declining footfall and investment.

Kirklees Council bought the space in 2020 with the aim to halt any further decline of the building and  a successful bid to The National Lottery Heritage Fund will see £4.5m awarded to fully refurbish the arcade. 

The Arcade Group – comprised of volunteers from the local community – is taking a 10-year lease from the council once refurbishment work has taken place and is fundraising for a target of £150,000 to finance the business.

Businesses and the local community of Dewsbury are being asked to help raise £150,000 in return for shares in the first community-run shopping centre in the UK.

Once refurbishment works have  been completed, investors will have a say in how the arcade is run. 

There will be a fundraising launch meeting at Dewsbury Town Hall tomorrow (12 October) at 6pm. A fundraising page at www.crowdfunder.co.uk/p/dewsbury-arcade will also launch tomorrow and will be  open for weeks.  

Chris Hill, development director of the Arcade Group, said: “This is a really exciting and unique project and one which we hope the whole community in Dewsbury can support.

“We firmly believe the rejuvenation of the arcade will massively enhance the town centre and act as a catalyst for further investment and improvements. We hope it will help in  the renaissance of Dewsbury.  

“The arcade will be run by the community for the community and we’ve been really encouraged  with the feedback so far.” 

Once restored, the arcade will have 16 smaller shop units, four larger spaces and six upstairs studios  suitable for artists or offices.  

Councillor Cathy Scott, leader of Kirklees Council, added: “The council’s purchase of the arcade was one of the first major steps in our Dewsbury Blueprint  plans, and we’re all incredibly excited to see it returned to its former glory.

“Our aim with each and  every development is to create improvements that are sustainable, which will benefit the town for  many years to come, and will bring a renewed sense of joy and pride to the local community.

“As the first community-run shopping centre in the UK, the Dewsbury Arcade would do just that.

“Our blueprint for the town isn’t just about a few years of investment – it’s about what Dewsbury will be to future generations.

“With this in mind, I hope local people will consider investing in this building, which is both a piece of both our history and our future.”