Last month, the Arcade Group – a community business formed specifically to lease and manage the Dewsbury Arcade, once it is reopened in 2025 – undertook fundraising to make the arcade the UK’s first community-run shopping centre.
Thanks to backing from local people and businesses, their ambitions will be realised.
The Dewsbury Arcade is a Grade II Listed building, which has been a focal feature in Dewsbury town centre since the Victorian era but has stood empty for more than seven years. The arcade is a key focus of the Dewsbury Blueprint, which lays out Kirklees Council’s ambitious plans for the future of the town.
For the Arcade Group’s plans to be financially viable, they needed to singlehandedly raise upwards of £75,000 in investment to fund initial start-up costs.
They achieved their goal, through a combination of more than £50,000 investment from local residents and organisations, and match funding from Co-operative UK’s Booster Fund. Based on this success, Kirklees Council also awarded a further one-off investment of £25,000 (previously agreed by Cabinet in January 2022).
Thanks to the Arcade Group’s fundraising success, Kirklees Council have confirmed they will be taking on the lease and management of the arcade once it reopens.
Any member of the public or local business who invests in the arcade receives shares in the business side of the arcade. Through this community share group, local people will then be able to elect board members and have part ownership in the business. This means that, once work is complete and the arcade has reopened, anyone who’s invested will be able to have a say in how it’s run.
The aim is for the arcade to be returned to its former glory, attracting more footfall in the town centre and supporting the local economy. Kirklees Council’s ambition, together with the Arcade Group, is to fill the reopened building with a range of independent local traders, along with a great food and drink offering.
Once restored, the arcade will have 16 small shop units, four larger spaces, and six upstairs studios suitable for artists, offices or event spaces.
Work to restore and refurbish the arcade has already been fully funded.
The aimed reopening for the building is 2025.
