Independent Chartered Surveyors &
Commercial Property Agency

Regulated by RICS

Bradford Proposed One City Park Joint Venture to Develop Grade ‘A’ Office Space

Written by: Andrew Idle

13/07/2018 10:26

The recent policy decision by Bradford Council to seek a development partner to create a new-build office scheme on the Site formerly known as The Tyrls, off Channing Way, follows previous unsuccessful attempts to accomplish this.

The Council have been bold to start actively promoting City Park again, and there is no doubt that the City has no Grade A space to offer currently. Yet there have been a few requirements circulated by agents over the past few months seeking this top specification accommodation in Bradford of up to 30,000 sq. ft.

As Leeds becomes more and more sought after, and rents grow there, there is clearly scope for Bradford rents to rise in response, and thereby produce an acceptable margin for a developer.

No doubt a pre-let would have to be secured before the build could start, and I would imagine a development partner would want to see the Odeon site opposite being brought back to life, as this is a key catalyst for regeneration. I am aware that efforts are being made in this regard and have assisted Bradford Live with appraisals.

Another factor that would be a key step towards gaining Grade A status is the suitability / standard of transport links.

In this regard, the news announced in the Insider this week that Bradford are applying to become a major Hub for the HS2 rail network, with other organisations joining with the Council, is to be applauded. Let’s hope they are successful.

If Bradford is to gain the hundreds of white collar jobs it hopes to through this Grade ‘A’ initiative, it will need to nurture and retain its young population so that employers will have confidence that people with the necessary skills can fill the positions. Its educational attainment will need to keep improving.

One wonders why HRMC recently decided to move out of its large office premises in Bradford and Shipley into more costly space in Leeds; was lack of skilled employees coming in to replace those retiring a factor?

Andrew Idle Associates are active in the office market in Bradford and have let various premises of varying standards, on behalf of clients, over the past decade or so.

Andrew Idle