Bradford’s Vicar Lane leisure site has claimed another developer victim following Stadium Group’s decision to walk away from a £40m development of the site. Lisa Pilkington and David Mann report.
Last January, Argent pulled out of a similar leisure scheme at the site blaming lack of occupier interest. A spokesman for Eddie Healey’s Stadium said the company had withdrawn due to “unforseen delays in acquiring the site as a result of an archaeological investigation, coupled with a downturn in the leisure market”.
However, Stadium claims that it will continue to discuss alternative proposals for redevelopment of the site with Bradford council.
Stadium’s option to develop the site expired at the end of November and it is thought the developer lost a £1m deposit on the site. The developer had planned a 25,000 sq m (270,000 sq ft) scheme at the site, including a multiplex cinema.
Argent, in partnership with the council and JF Finnegan, had proposed a broadly similar scheme and had secured Warner Village as a prelet. However, the developer blamed lack of tenant demand for the failure of the scheme.
EGi News 09/12/99
