A MAJOR office development in Bradford city centre is a regeneration scheme, rather than a money making property development, Council leaders have claimed.

One City Park is one of the biggest developments in Bradford's post-pandemic pipeline.

The Grade A office building has been planned for a site on the edge of City Park - the former Tyrls Police Station site.

But at a meeting of the Council's Executive on Tuesday morning, one opposition Councillor questioned if a recent Government decision could throw a spanner in the works.

The project was recently granted £7.5 million funding from the Government's Getting Building Fund.

Bradford Council would pay for the rest of the project through borrowing and "invest to save" funding.

The overall costs for the scheme were recently listed as being £28.7 million.

But a report to the Executive listed the total budget as £35 million.

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Councillor Mike Pollard (Cons, Baildon) spoke at the meeting, pointing out a recent Government ruling. In November the Government announced that Councils would no longer be awarded loans to be able to invest in property for commercial gain.

Schemes that Councils would still be able to invest in include housing and regeneration projects.

At the online meeting Cllr Pollard said the ruling was intended to prevent Councils from becoming property managers, and added: "In the post pandemic commercial property landscape this is very far from a sure thing in investment terms."

Council Leader Susan Hinchcliffe replied: "It changed how Councils can invest in commercial property. Other Councils are a lot more prolific when it comes to this.

"It is your Government who think the One City Park Scheme is a good one, that is why they are investing in it. They believe in it and think it is the right thing to do for the District.

"We all know a change in the office space offer needs to happen, and we have already had interest in this.

"It would be very foolish to step back from regeneration and growth when we need it the most.

"It seems your message is to have no hope.

"We're providing that hope and realising that hope, that is very important at this time."

Chris Chapman, Director of Finance, said: "We've scrutinised out capital plans to make sure we don't fall foul of the new legislation. With One City Park we are absolutely convinced that it has been flagged as a regeneration project. It has never been flagged as a purely commercial proposition."

If all of the 5,400 m2 of commercial floorspace in One City Park 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.

Work is expected to start later this year.