Stannifer Takes the Lead in Bradford

LONDON-Stannifer is to take the lead in the consortium behind the £200m (£329 million) Broadway retail scheme in Bradford.

The Midlands based firm is in negotiations with Caddick Developments and Magellan Estates to take a stake in the consortium and the council is understood to back an increased role for Stannifer.

The 500,000-sf Broadway scheme has planning consent despite the expression of doubts about the quality of the scheme by Yorkshire Forward, members of the council and Bradford’s Urban Regeneration Company (URC).

The size of the scheme means it has automatically been referred to the Office of the Deputy Prime Minister but a decision on whether or not to hold a public inquiry has not yet been taken.

The scheme has provisionally received £10m in public grants, mainly from the EU. Additional funding had been expected from Yorkshire Forward and URC but both bodies are refusing to contribute any funds to the development of Broadway I if it goes ahead in its present form. But they are willing to help finance a second phase of Broadway.

Work on the site, including demolition of 80 buildings and road construction, must now start by the end of the year or Bradford will lose the funding from the EDRF, Local Transport Plan and Transport 2000.