A MULTI-MILLION pound office development in Bradford will be able to "adapt to ‘post-Covid’ occupier requirements - according to a new report.
One City Park is a £28.7 million Grade A office scheme planned for the site of the former Tyrls Police Station in City Park.
The plan to build office space on the site was mooted years ago, but this Summer the plans were given a boost when the Government announced that it was one of several local schemes that would receive millions from its Getting Building Fund - designed to kickstart the UK economy post Covid.
At a meeting of West Yorkshire Combined Authority's Investment Committee next week, members will be asked to free up £1.9m in funding to help the scheme come to fruition.
Members will be told that the scheme will be one of the first in the region designed to meet the new requirements of businesses that have faced changes due to the Coronavirus pandemic.
The Authority, made up of the five West Yorkshire Councils, will be providing £7.5m for the scheme through the Getting Building Fund. The rest of the cost will come from a loan being provided to Bradford Council Public Works Loan Board.
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If all of the 5,400 m2 of commercial floorspace is let, then the scheme will create 452 jobs, and 300 construction jobs while the building is erected.
Bradford Council proposed the scheme due to a lack of high quality office space in the city centre. Available space was said to be either in converted buildings, unsuitable for modern offices, or not of the quality required by major companies.
A report to the investment committee says construction should begin in November, and the project should be completed by December 2022.
It will be designed, built and marketed by Muse Developments.
The report says: "Bradford City Centre lacks high quality office space and has seen the extent and quality of office space generally decline over a number of years.
"These market conditions lead to low property values in the area which leads to a lack of commercial investment.
"One City Park will be well placed to adapt to ‘post-Covid’ occupier requirements due to the early stage of design. An up to date market assessment suggests that demand remains strong and provides practical recommendations on how to design One City Park to reflect likely office space requirements post Covid.
"There remains a lack of appropriate supply within Bradford and throughout the sub-region.
"The project will generate significant wider economic benefits, including apprenticeships, business growth and significant wider regeneration benefits.
"The scheme potentially represents very good value for money. However, it is recognised that the delivery of the job outputs and any subsequent benefits will depend on the successful letting of the floorspace in the completed development.
"The scheme could potentially deliver wider qualitative benefits, acting as a catalyst for the wider people centric regeneration of the city centre along with other investment in the area
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