Bradford-born entrepreneur Jack Wade is the man behind the acquisition of the world-famous Black Dyke Mills.

Mr Wade, 69, was born in Aireville Road, Manningham, and lived in the city with his family until he was aged ten.

Now living in Huddersfield, he is planning to lease the remaining 200,000sq ft of the 300,000sq ft building and expects the firms coming in to create between 400 and 500 jobs in the next five years.

Mr Wade, who acquired the property for £1.55 million, is a specialist in turning former mills into managed workspaces. His first acquisition was the former Ellis wool mill in Dewsbury which is where his firm, Homeguard Properties, is based.

He has now bought and refurbished other mills in Halifax and Huddersfield and estimates he has helped to create 1,200 jobs in total.

He said: "We decided to buy the Black Dyke Mills because they are known around the world."

The mills have been sold by former owner John Foster Plc which is leasing back part of the vast series of buildings to carry on its textile marketing business.

Mr Wade added: "The mill will be let to a variety of businesses and we will look at start-up firms. Former employees of John Fosters could be helped to find work there.''

The sale of the mill complex was completed earlier this week and the leasing operation will be carried out by Mr Wade's son John Wade. Aged 47, Mr Wade started his career with the family motor dealership and insurance company.

"I then went on to become a salesman for a builders' merchants and now I am general manager of the Black Dyke Mills and another one at Halifax," he added.

Black Dyke Mills was put on the market in September. The sale will reduce debt at struggling John Foster which is just starting to turn the corner after years of big financial losses.

The group this year made a £68,000 loss compared with one of £566,000 at the same time last year. But its turnover was halved to £1.42 million from £2.97 million last time.

John Foster Textiles, one of the group's subsidiaries, managed to make a small profit this year - for the first time in many years.

Steven Oxley, a director of the firm and the group company secretary, said today: "I cannot say what the small profit is but we are happy with the way things are going with the textile business. We are seeing the benefits of the hard work we have put into the business in the last 12 months."

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