Hornsea Freeport's future 'secured'

The future of an East Yorkshire shopping village has been secured, with its new owners promising to attract more retailers.

Hornsea Freeport, which had been in administration since July 2009, has been taken over by Headrow Commercial Property Services Limited, a wholly owned subsidiary of Leeds Building Society.

The 16-acre site, with 43 retail units, is the town's largest source of employment, with around 250 people working for retailers or directly for Freeport Hornsea.

Peter Hill, chairman of Headrow Commercial Property Services Ltd said: "We are confident that Freeport Hornsea has a successful, sustainable future, with the major investment we can bring to the shopping village.

"We are very keen to engage with all the local stakeholders and agencies.

"We intend to work closely with the existing tenants to develop a clear plan for recovery.

"As part of our strategy to increase visitor numbers and sales, secure jobs and create new employment opportunities, we are in active negotiation with new anchor tenants."

The village's previous owners, Hornsea Estates Limited and Hornsea Estates (No 2) Limited, entered into administration.

Peter Bowden, director of DTZ, who will be acting as asset managers for the new owners, said the new investment will "secure the ongoing viability of the shopping village and retain its important place within the local community".

He said: "We are now in a strong position to restore the Freeport Hornsea to its former levels in terms of visitor numbers, sales and jobs, and attract new tenants.

"This will offer visitors an excellent range of shops that will provide good, value for money shopping combined with food and leisure facilities that will make visiting Freeport Hornsea a great day out for all the family."

Despite difficult trading conditions, the administrators, Deloitte LLP, have said turnover at the outlet in 2009 exceeded expectations, which they say gives the shopping village a very good base from which to develop.