BRADFORD'S successful bid to be UK City of Culture 2025 will give a boost to the city’s commercial property market, says a Yorkshire property expert.

A UK City of Culture is chosen every four years, with Bradford's 2025 bid proving successful. The honour has previously been awarded to Derry-Londonderry (2013), Hull (2017) and Coventry (2021).

It is seen as a coup for places that win the title because of the significant level of extra investment, publicity and jobs it can produce over the course of 12 months and beyond.

Those behind Bradford’s bid believe it will generate £700 million and create 3,000 jobs.

David Cran, Yorkshire director at Chartered Surveyors and Estate Agents Bradley Hall, said: “It is fantastic that Bradford’s bid to be UK City of Culture 2025 has been successful. It is great recognition for this up-and-coming city.

“This will undoubtedly have a huge positive impact on the economy of Bradford and the wider area. The evidence from previous cities that have been named City of Culture is that it provides significant investment and GVA (gross value added) improves too.

“I’m sure that this will have a knock-on effect on the commercial property market and that this will lead to greater demand and therefore an increase in value. In fact, there’s probably never been a better time to invest in Bradford.”

Since winning the title, Coventry has seen more than £172m invested in music concerts and an immersive digital art gallery, and a further £500m for the city's regeneration.

A report looking at Hull's successful bid found “the most significant impact of all” was an estimated £676m of new private and public investment generated for the city.

“Being UK City of Culture will provide huge amounts of opportunities for businesses and investors in Bradford,” said Mr Cran. “It’s not often that a city has such a guarantee of activity and investment and I’m sure that will give investors huge confidence.”

The year is set to deliver more than 1,000 new performances and events including 365 artist commissions, a series of major arts festivals as well as national and international collaborations.

Themes will be rooted in the unique heritage and character of Bradford.

Shanaz Gulzar, Chair of Bradford 2025, said: "This is a huge opportunity to celebrate our extraordinary district and for our young, ethnically diverse population to become leaders and change-makers and begin a new chapter in our story."

 

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