Yorkshire Forward transfer assets named

THE identity of land and property assets owned by disappearing regional development agency Yorkshire Forward, including the former Odeon Cinema in Bradford and Tower Works in Leeds, which are to be transferred to the Homes and Community Agency have been revealed. 

Under the move, a number of coal mining sites in Barnsley, Doncaster, Rotherham, Sheffield and Wakefield will be transferred and will continue to be delivered as part of the National Coalfields Programme.

Around 50 property assets in Yorkshire will be transferred on September 19.

Although the HCA will own the assets and liabilities, local authorities and other parties are being given the opportunity to still be able to be involved in decisions about their future development plans under a ‘stewardship’ model.

Under the plan, a number of assets will automatically transfer to the HCA. Other assets will transfer if they can’t be sold to the private sector.

Assets included in the plan include three phases of the Digital Campus in Sheffield, The Tyrls and Velocity in Bradford and Island Wharf in Hull.

Others include a canteen building in York, a former pub and fish and chip shop in Scarborough, and the Round Foundry in Leeds.

To see a full list of the property assets being transferred, click here.

To see a full list of the coalfield assets being transferred, click here.

Under a similar but separate arrangement, the Department for Business, Innovation and Skills will contract the HCA to manage the Advanced Manufacturing Park at Rotherham which has been identified as an asset of national importance by the Government.

Yorkshire Forward put the value of its assets at the end of its last financial year at £220.11m. Ministers gave the green light to the sale of Yorkshire Forward assets thought to be worth around £15m in April.

John Hayes, Business, Innovation and Skills Minister, said: “The Government is committed to ensuring RDA assets are used to support economic growth and regeneration.

“The HCA will be establishing local committees which will ensure community influence in the development of these assets.

“We are putting in place an efficient and locally driven model of economic development fuelling prosperity – through sensitivity to the needs of local businesses – to serve the common good.”

BIS said portfolios of land and property assets to be transferred will include income generating assets which will provide investment funds for those assets which need further development.