Westfield said that final site enabling works were now being completed on the £260m Bradford Broadway development.
Start of main works follows completion of the sale of Westfield’s interest to another retail developer Meyer Bergman. Meyer Bergman acquired the scheme with support from two Canadian pension funds, Healthcare of Ontario Pension Plan and AIMCo. Together they have appointed Westfield to develop, design, construct and lease the project. Westfield will also act as the property manager for the centre following completion of the development.
However, despite being on the verge of starting work, Westfield has yet to name its construction partners for the scheme.
Westfield managing director Michael Gutman said: “Westfield is delighted to announce the start of construction having remained steadfastly committed to delivering the Bradford development following cessation of work in 2008 as a result of the global financial crisis.
“Westfield has worked intensively with Bradford Council, the government and Meyer Bergman to attract new retailers, create new jobs and ensure that this development is built for the city and the people of Bradford.
“The Broadway development is the first of many schemes in our £3.5bn+ development pipeline which also includes the £1 billion expansion of Westfield London and new projects in Croydon and Milan.”
Meyer Bergman CEO Markus Meijer said: “This is a very important scheme for a vibrant and ambitious city that has one of the fastest growing populations in the UK. We believe this modern retail offer will serve a long-term need of the community and transform retailing in West Yorkshire.”
The 570,000 sq ft new shopping centre will feature a 106,000 sq ft Debenhams department store and a 63,000 sq ft Marks & Spencer as anchor retailers, along with 70 additional shops, restaurants and cafes, including Next, River Island, Topshop, Topman and Sainsbury’s.