Hull Forward picks Fruit Market properties

HULL Forward, the city’s economic development company, has acquired 17 more properties in the Fruit Market regeneration area.

The premises in Hull were formerly owned by the Fruit Traders on Humber Street.

The deal will allow development plans for the area to move forward as well as enabling the existing fruit traders to continue trading in the area, prior to their move to new, purpose built facilities at Priory Park.

John Holmes, chief executive of Hull Forward, said: “In simple terms, this means that we buy the Fruit Market traders’ existing premises now so they can use the sale proceeds to help fund their relocation. We have then leased back the same properties to the traders so they can remain in occupation until their new premises are ready.

“This news also signifies a major step forward in our land assembly strategy for this hugely important area, a vital piece in the regeneration jigsaw of Hull.

It brings the number of properties purchased by Hull Forward by agreement to 25, representing 75% of the Fruit Market area.”

Local development company ispace planned and delivered the relocation of the Fruit Market to its new facility.

Director Richard Burns said: “We worked closely with the traders to ensure that the move to a new site met all of their needs. We felt it was critical to ensure continuity of service for their businesses and their customers and by moving together as a single vibrant community into purpose built premises, we and the traders believe the move will be as beneficial for their businesses as it will be for the site they leave behind.”

Hull Forward, which was launched on April 1 and will continue the work of Hull’s former urban regeneration company Hull Citybuild, said it would try to continue to work with property owners to try and take forward negotiations to buy properties by agreement.

However, the body has made a request English Partnerships, the Government’s national regeneration agency, to use its compulsory purchase powers to acquire those properties and interests Hull Forward is unable to purchase by agreement.

Mr Holmes said that Hull Forward was pleased it had come to agreement with the parties involved as compulsory purchase orders were a “last resort”.

He added: “We are at an advanced stage of discussions with five developers who we have chosen to work with to undertake the transformation of the area into a vibrant hub of city centre living and working within a beautifully restored historic conservation area.”