There’s never been a better time to invest in Bradford.
Over the past few years, Bradford has seen a huge surge in the amount of redevelopment across the city. You can find out about many of the recent additions to the city here and here. But what do the changes mean for developers? And whether your interests are residential or commercial, what evidence is there that the pace of change will continue?
The Bradford Growth Zone
If we look at just one sector – retail – recent data puts Bradford’s catchment area at around 1 million consumers with an annual spend potential of £623 million.* Growth, including the recent opening of the Broadway shopping complex, is forecast to bring an additional £250 million into the local retail sector.
That growth is not restricted to retail, nor is it restricted to large brands and businesses. The establishment of a City Centre Growth Zone has created an area in which businesses of all sizes can benefit from a range of incentives including rate rebates, capital grants and preferential planning applications.
Already, more than £60 million of private sector investment in the city centre has been complemented by over £30 million from public funds, demonstrating a clear commitment by the local council to support development.
Further growth potential
Several sites across the city centre and the wider district present excellent investment opportunities.
The land adjacent to the Broadway shopping area is becoming Bradford’s prime restaurant district – with planning permission for A1 to A5 use already granted. Modern, city centre office space has seen unprecedented recent growth and represents an exciting investment opportunity. And new high tech investment space is centred around a 16 acre site in Baildon, with additional space for residential, hotel and retail development.
The residential opportunity
The rapid expansion in Bradford’s local economy has placed significant demand on the local housing market, with demand for accommodation of all types – from quality student accommodation to apartments for young professionals; first time buyer properties to family homes – fuelling a spate of development across the city and surrounding areas, with potential for more.