Developer Westfield has said the capital it receives from any future sale of its Derby shopping centre will be re-invested in its development portfolio which includes its £320 million shopping centre in Bradford.

The Australian developer confirmed last week that it still hoes to begin work on the Broadway centre by the end of this year.

Westfield originally intended to start work in Bradford after completing Derby until the scheme was mothballed due to the recession in 2008.

It said the proposed sale was part of a regular review of its portfolio. In a statement Westfield said: “Westfield continually reviews its global portfolio and has taken the decision along with joint owner Westfield UK Shopping Centre Fund to appoint Savills to market its Derby centre for a potential sale.

“Derby is Westfield’s first development in the UK and is a solid performing asset with strong sales and footfall.

"Westfield will continue to review relevant opportunities to determine if it wishes to proceed with a sale.

"Capital from any sale will be reinvested into Westfield’s extensive UK and Europe development pipeline.

“Westfield UK/Europe’s current £3.5 billion plus development pipeline includes the Westfield London expansion and new developments in Croydon, Bradford and Milan."