THE rebirth of the former Bradford Odeon into a new live music and entertainment venue has moved a step closer after the site’s developer and chosen operator exchanged contracts on the deal.

Social enterprise Bradford Live has cemented its relationship with the NEC Group, operator of two of the UK’s busiest arenas, which has signed a 30-year lease on the building.

The 1930s twin-domed former variety theatre and cinema is said to be on track to open in late 2020, having been vacant since 2000.

Chris Morrell, director of Bradford Live, said: “We are delighted that our partnership with the NEC Group has now been formalised and we’re thrilled to have such an enthusiastic, experienced, and successful operator on board with our project.

“We are convinced they are the perfect partner for us and for Bradford and we look forward to working with them alongside Bradford Council during the delivery of the scheme and over the coming years.”

The developer has stated that as well as creating the full-time equivalent of around fifty new jobs, the venue will play an important part in the ongoing regeneration of Bradford city centre.

Once completed, the 4,000 capacity venue is expected to host more than 200 events a year, attracting 270,000 people to the city and boosting the local economy by around £10 million.

Beyond the main auditorium, the building’s 1930 art deco ballroom will be restored to its original splendour to host weddings, banquets, corporate and conferencing events, and other live performances.

The revamp has been costed at £19.8m, and has been supported by a £12m loan from Bradford Council, money which is due to be repaid through lease payments made by NEC.

The project was given a further boost in March when it was announced that the Odeon had been chosen to receive £4m from the Government’s Northern Cultural Regeneration Fund, with the scheme praised for its potential to bring a “beloved historic building back to life.”

NEC Group’s Phil Mead said: “The sealing of this deal is another crucial milestone. Our 30-year commitment supports Bradford Live to unlock much of the funding needed to restore the building. It also means we can play a real part in its detailed design stage. We live and breathe live events and we’ll be using this insight to help inform and future-proof everything about the project, providing a fantastic customer experience whilst meeting diverse operational needs.

“Getting a working venue of this size into Bradford is amazing. As well as great news for live gig fans, it’s going to drive serious footfall into the city centre to support surrounding businesses and provide direct employment for local people in a seriously inspiring environment. We can’t wait to get started.”