A buyer has been found for landmark Manningham Mills, it emerged today.

A property company with a track record of converting industrial premises to luxury, architect designed flats has stepped in to take over the crumbling South Mill of the complex.

Urban Splash, an award-winning Manchester company, has paid administrators Ernst and Young an undisclosed price.

And its representatives will be in Bradford on Monday to meet potential development partners, including Bradford Council and the regeneration agency Yorkshire Forward.

The news was welcomed by the Reverend George Moffat, chairman of the Manningham Mills Community Association, which has been campaigning to get the majestic buildings brought back into use. "We are very pleased a buyer has been found for the mill. This is the start of something tremendously exciting."

He said that the South Mill complex needed at least £4 million spending on it to create a new roof and make it habitable for tenants.

Any redevelopment would need to be based on a 'mixed' use of the site - housing, industrial, arts and community - because of its huge size.

"Urban Splash have been very successful in converting sites in Liverpool and Manchester," Mr Moffat said.

"This will be its most challenging venture yet. Every other developer has looked at it and fled.

"They couldn't cope with the size, and they couldn't cope with the state of Bradford.

"Manningham isn't Saltaire - it isn't full of middle class trendies. And they can't change the area, they have got to work with it."

No-one at Urban Splash was available for comment.