Developers aim to fill 80 shop units in a massive covered shopping mall planned for Bradford city centre, it was announced today.
A consortium which bought Central House - including the Broadway shopping centre - for £7.5 million from receivers announced today that substantial progress was being made.
Richard Weatherhead, development director for Knottingley-based Caddick Construction which heads the consortium, said the estimated cost of the proposals was £100 million.
He added that they hoped to submit a planning application to Bradford Council in the next few months.
The developers want the centre to be open for Christmas shopping in 2001.
The proposal is based on Forster Square, bordered by Broadway, Petergate and Hall Ings.
Mr Weatherhead said it would regenerate what was historically the heart of the city centre until Arndale developed the only covered mall in the 1970s.
He said it had resulted in a shift away from the original heart centred on Forster Square so that the streets around Darley Street became the most sought -after by retailers.
Mr Weatherhead confirmed plans to demolish many of the early 1960s buildings in the area but said existing stores, including BHS and C&A, would be rehoused with modern premises in the new centre.
He said: "Substantial progress has been made since the acquisition in June.
"We have held a number of meetings with the local authority and have been delighted by the support and a positive reaction from the Council."
The plans to replace the existing concrete eyesore will include a two-level mall with more than 500,000 sq ft of shopping floor space. There would also be a multi-storey car park for 500 vehicles.
The Council - which has signed a development agreement with the partnership - will get a profit share.
Eric Hudson, president of Bradford Chamber of Trade, said there needed to be in-depth discussions at each stage of the development to make sure other parts of the city centre were not seriously affected.
"I think it's important that the developers have the confidence in the future of Bradford that they are willing to make such a large investment," he said.
"It does have to be looked at carefully particularly the impact it has on the shopping centre at the other end of the centre.
Jeff Frankel, of the Bradford Retail Action Group, said the scale of the development was good news for the city.
He said most shopkeepers in the hard-hit top of the city centre would be unlikely to move to the new mall which was likely to be occupied mainly by major multiple stores.
"It is another marvellous boost for the city - any development has to be encouraged," he said.
"It can't take any more trade away from the top end because there isn't exactly a lot left."
Converted for the new archive on 30 June 2000. Some images and formatting may have been lost in the conversion.
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