Boost for Bradford
ProLogis announces its largest ever deal - a multi-level pre-let which will create up to 2,500 jobs.
Bradford is to become the home of an exemplary new employment park, creating up to 2,500 jobs in the first phase and more to come. We have entered into a 50/50 joint venture with Marks & Spencer to co-own and develop a retail distribution centre on the site.
“It really is great news,” said Bradford South MP Gerry Sutcliffe, “Here we have focused plans and a great provider in the shape of Marks & Spencer… this is good for the city’s economy and the city as a whole.”
Commitment and delivery
For ProLogis, this has been a story of commitment and delivery.
The 90-acre site at Rooley Lane belonged to West Bowling Golf Club and was allocated for development back in 1988. But plans to create an employment hub stagnated after a series of unsuccessful development proposals.
In 2006, ProLogis decided to invest in the emerging Yorkshire market. Bradford was selected for its prime credentials: good land supply, a ready labour force (currently the fastest growing outside London) and a prime location on the M62 between the centres of Leeds and Manchester.
We bought the site in 2006 and within 18 months have secured the biggest pre-let the company has ever seen. Now ProLogis Park Bradford – a prominent gateway to the city – will be a flagship employment park for Yorkshire. Practical Completion of developers’ works is expected at the end of 2008 and the building will be retained and managed by ProLogis internally.
People in mind
The proposed Marks & Spencer distribution centre has been planned with people in mind. Its leading-edge design is 21 metres high, with four internal mezzanines and a central atrium that floods the space with natural light.
It will also be highly efficient. The modern, large-footprint building will, subject to planning consent, be constructed with ProLogis’ benchmark sustainability credentials and fulfils the aspirations of Marks and Spencer’s “Plan A” sustainability agenda – the retailer’s five-year, 100-point eco-plan, which includes a commitment to take its UK and Republic of Ireland operations carbon neutral.
Bradford is Marks & Spencer’s preferred location for this new generation building. The proposed 35-year lease represents an exceptional long-term commitment to Bradford and the region. Subject to planning, the new building should be operational by 2010 and offer up to 2,500 high-quality jobs of all levels. A Training Academy will encourage career advancement for employees.
The giant wakes
For too long, Bradford was the “sleeping giant” of the Yorkshire economy. But Britain’s 6th largest city is now forecast to be the fastest growing economy in the Yorkshire region over the next ten years.
In the 1850s, Bradford was the textile capital of the world, with a population of 100,000. Today, that population approaches 500,000.
Already Bradford has already undergone a massive transformation. Its business base has diversified to include engineering, printing, banking, high technology and the media.
Under its new “Birth of a City” banner, and with the help of a £1.5 billion regeneration programme, Bradford is reshaping, rebuilding and reinventing itself.
Vibrant new economy
A major goal of the new Bradford Master Plan is the creation of quality, long-term jobs which retain and attract employees. ProLogis has been working in close partnership with the City of Bradford Council and other key stakeholders to deliver these aspirations.
“This development is great news for Bradford and for those who are working to make the city an international economic force,” said Matthew Byrom, ProLogis Vice President, Development. “It shows what can be done with the right ingredients of a ‘can-do’ local council and pro-active business community. ProLogis is proud to play a part in the delivery of a vibrant new economy for Bradford.”
ProLogis Park Bradford will comprise a business park, a range of units suitable for small to medium sized businesses and 145 new homes.
A further 500 to 1,000 jobs are expected to follow when the land is fully developed.
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