Provident Financial leads way as city unveils £100m of new schemes

 FINANCE group Provident Financial is to move its headquarters to a new £50m development in the centre of Bradford.

The announcement follows the granting of planning permission for a major office, hotel and leisure scheme by Northern Irish developer McAleer & Rushe.

It came as another £50m of development schemes were unveiled for the centre of the city and the most environmentally friendly student accommodation in the UK was granted planning permission as part of a £150m sustainable student village in the heart of Bradford’s city centre.

The schemes, No.1 Hamme Strasse, High Point, the Woolston Life and Leisure complex and Pembroke Court, mean an additional £50m will be invested in the city over the next year.

The new Southgate scheme will bring 117,000 sq ft premium office space, occupied by Bradford-based financial services provider, Provident Financial and a 200-bed 3-4 star Jury’s Inn hotel and restaurant to Bradford city centre.

Developers, McAleer & Rushe, named Northern Ireland Property Developer of the Year, plan to transform the one-acre city centre site which sits on the edge of the city’s unique £750m Learning Quarter development, and forms a vital link between the academic area of the city and the planned City Park.

Stephen Davey, from McAleer & Rushe, said: “We’re delighted that permission has been granted for work to start on site. We are committed to delivering this landmark project in Bradford, as part of the high profile regeneration taking place in the city.” 

Alex Munro, partner at Knight Frank, said: “Receiving the go-ahead to start work on this significant scheme is a very positive sign for Bradford’s regeneration. McAleer & Rushe are renowned for their high standards of build and delivery, which is a tremendous fillip for the city.”

City leaders believe the new development schemes send a strong signal that private investors are committed to the continued regeneration of the Bradford in a difficult economic climate.

The developments, which include three hotels, more than 15,000 sq ft of grade A office space, retail, leisure and residential plans, will help underpin some of the major regeneration projects being developed by the public sector partners – Bradford Metropolitan District Council, Yorkshire Forward, the Homes and Communities Agency and Bradford Centre Regeneration.

The move is seen as underling the strategy for public sector partners to focus on transformational schemes and on creating a public realm infrastructure to attract developers to see opportunities in the city.

Construction is already underway on Hallgate House, a two block development as part of the No.1 Hamme Strasse scheme, which will provide Grade A office space, retail space and a hotel.

Kerry Tomlinson, managing partner of The Property Group, who officially launched their  No.1 Hamme Strasse scheme at the MIPIM international property conference, said: “What we recognise in Bradford is a city that is moving forward through its regeneration, which brings with it exciting potential for development.

“It is also hugely attractive as the people involved in building a vibrant city centre are keen to get involved and support developers who have a solid commitment to this regeneration. The foundations being laid to build a ‘city for the future’, make it a city with huge commercial appeal’

Bradford Council’s executive member for regeneration and economy, Councillor Adrian Naylor, said: “The news that developers are committing this amount of money in the city is very positive for the district and shows the confidence developers have in it’s regeneration.
 
“Being able to offer extensive leisure and office facilities, such as the ones planned, will have a big impact on attracting more investors to the city, as well as visitors, which will help boost our local economy.”

Maud Marshall, chief executive of Bradford Centre Regeneration added: “The potential that exists in Bradford, which is still in the early stages of regeneration, is not something that will disappear. Developers are realising this through their commitment which sends a very positive signal that the opportunities still exist.”

The Listerhills Sustainable Student Village, which will be home to 1,000 students and will be built by Mi7 Developments, the project management company for the Hayaat Group, and will be the first planned BREEAM Outstanding student accommodation in the country.

The scheme, which gained detailed planning permission from Bradford Council yesterday afternoon, is part of the city’s £750m Learning Quarter which will provide a centre of excellence for design, education and innovation.

The Sustainable Student Village is the landmark development within the wider £150m Listerhills scheme. Alongside the student accommodation, planning permission has already been obtained to deliver business innovation and managed workspace, academic and healthcare facilities and extensive public realm.

Mohammed Ishtiaq of Mi7 Developments said: “Receiving detailed planning permission is the culmination of three years of preparation, planning and hard work.  It highlights the long-term commitment everyone involved in the project has to transforming Bradford into a 21st Century city.”

Already demolition and refurbishment work has started on site. The first stage has seen removal of key buildings, which is to be followed by the ground-breaking student accommodation. Refurbishment work has also begun on an existing building which, when completed, will become serviced offices and incubator space for starter business units.

The scheme developed by Mi7 Developments, with significant support from Middle Eastern investors, has the potential to create more than 700 jobs. Following the granting of detailed planning permission, the construction phase of the Sustainable Student Village and business units, alongside the academic and healthcare facilities, is expected to commence on site in the autumn.

Mark Cleary, Vice Chancellor of the University of Bradford said: “Listerhills Sustainable Student Village will have a substantial impact on the university. The scheme complements our plans to create a 21st century campus and the wider “ecoversity” initiative, which is intended to promote sustainability throughout all aspects of university life.

“As a leading academic institution, we strive to be at the forefront of excellence and innovation. Demonstrating sustainable living and learning highlights our forward-thinking approach and will put the university of the map.”