Odeon bought for £1
Latest from Bradford Council:
‘Bradford Council has now bought the Odeon cinema for £1 and bids are being invited to develop it from interested parties.
The Homes and Communities Agency (HCA) has now transferred the beleaguered cinema building and The Tyrls, that housed the former police station, back to the Council.
The HCA has provided £3.5m funding to the Council to prepare both the sites for development.
The Council will be inviting bids for the Odeon and a shortlist of contenders will be drawn up next year with the final decision being made next summer.
Bradford Council leader, Coun David Green, said: “We can now push forward with plans for the regeneration and transformation of the city centre.
“Acquiring the former Odeon means that we can now examine commercially viable ideas to save the building which many have fought to keep over the last decade while it has stood empty. It has always been our policy to find a sustainable future for the Odeon.”
The Council commissioned structural surveys before considering whether it should buy the Odeon for £1 as it will need substantial sums of money spent on it to maintain its current condition.
The building has stood empty since 2000. The HCA terminated the development agreement with Langtree Artisan last September after they failed to comply with its terms and sign a Section 106 agreement.
Nas Parker, Head of Area at the Homes and Communities Agency, said: “The transfer of the Odeon alongside £1.3m of HCA investment to Bradford Council will ensure that the Council can prepare the site for development in a way that meets local priorities.”
Legal agreements have been signed to mark the official handover of the building.’
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November 14, 2013 Latest News