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Westfield confirms Broadway shopping centre plans for 2013
Announcing its annual results for 2012, which saw Westfield boost global profits by 18.3 per cent to £1.16 billion, joint chief executive Steven Lowy said the group anticipated new developments of up to £1bn in 2013 would include the Bradford site.
Meanwhile, an application has been made to Bradford Council planners to create a larger two-storey glazed shopfront at the Lower Kirkgate entrance to the Broadway development to replace a single-storey shopfront already been agreed.
The application is believed to be on behalf of a major retailer already signed up to the scheme.
It follows Bradford Council’s recent approval for Westfield anchor tenant Debenhams to increase its sales floors from two to three.
In October a deal designed to kickstart the project was also confirmed – involving the site being sold to a specialist real estate investment management firm, London-based Meyer Bergman.
It involves Meyer Bergman owning the site and appointing Westfield to develop, design, construct and lease the new shopping centre.
Duncan Bower, Westfield director of development, said planning permission for an expanded Debenhams store was an important milestone. He said the latest bid for the enlarged shop front by ‘a major retailer’ was another step towards getting the development off the ground.
Westfield Group joint chief executives, brothers Peter and Steven Lowy, said 2012 had been a significant year for the group, with a good performance in line with expectations.
Steven Lowy said: “Our strategy is to develop and own superior retail destinations in major cities by integrating food, fashion, leisure and entertainment using technology to better connect retailers with consumers. We aim to operate our centres at the highest standards and efficiency to create assets that are highly productive, have strong franchise value and have the ability to attract leading retail brands.”