Wakefield Council finalises deal to buy The Ridings
Tuesday, April 21, 2026
A joint statement from Wakefield Council and Zahid Iqbal, owner of The Ridings Shopping Centre.
Wakefield Council and the owner of The Ridings have confirmed that a deal has been finalised for the sale of the shopping centre, with contracts to be exchanged shortly.
Zahid Iqbal, owner of The Ridings Shopping Centre, 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.”
“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.”
Tony Reeves
Chief Executive
Wakefield Council remains committed to proposals for a new Cathedral Quarter and working closely with businesses and residents who are directly impacted by the plans. Making sure that those who want to remain in the city centre are able to do so.
The Council and the owner will be communicating directly with tenants in The Ridings once a completion date for the sale is agreed. Consultation is then expected to start this summer, with everyone having the opportunity to influence how the plans will take shape.
Phase 1 of the project includes the Council’s commitment to secure new high-quality accommodation for Vico Homes residents who choose to stay in the city centre.