Bradford project “pre-development activity continues” says report

The Broadway site

The Broadway site

First published in News

The Australian shopping centre group behind Bradford’s mothballed Broadway development has announced its full year results for 2009.

The Westfield Group said its operational earnings were up 6.2 per cent on the previous year to Aus $2.064 billion, while its earnings before interest and tax went up by 8.3 per cent to Aus $2.871 billion.

Under the heading Strategic Development Opportunities, the company’s report mentioned Bradford alongside Nottingham as one of two high-quality UK assets where “pre-development activity continue”.

Westfield Group managing directors Peter Lowy and Steven Lowy said: “Notwithstanding the difficult conditions in the real estate, retail and capital markets in which we operate, the group has been able to meet its forecast given in February last year.

“Overall, we have seen strong performance from the Australian business throughout the year and conditions have stabilised in the second half of the year in our United States, United Kingdom and New Zealand businesses.”

Westfield said construction and leasing were progressing well at both the £1.45 billion development at Stratford, London, and the $1.2 billion redevelopment of the Sydney City scheme, in Australia.

It expected to start work on $300 million of major Australian projects in 2010 in addition to the $350 million office tower at Sydney City.

Comments (7)

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12:03pm Thu 25 Feb 10

Rambo says...

What a sorry sight the view in that photo is.
What a sorry sight the view in that photo is. Rambo
  • Score: 0

12:40pm Thu 25 Feb 10

ItchyBungle says...

Bully for Westfield. I think this might be another story by Will Kilner as there is no investigation and they have pretty much just printed the press release - or at best they have read the annual report and printed various paragraphs.
.
Furthermore what does "pre-development activity continue" mean?
Bully for Westfield. I think this might be another story by Will Kilner as there is no investigation and they have pretty much just printed the press release - or at best they have read the annual report and printed various paragraphs. . Furthermore what does "pre-development activity continue" mean? ItchyBungle
  • Score: 0

2:27pm Thu 25 Feb 10

Xanadu5579 says...

Pre-development?????


I assume this is a pretty word for making a mess and leaving it for a number of years.

Perhaps the aim is to leave it in such a state that eventually the council will beg for the land back and the Westfield can then sell it back for twice the cost. Would be a great way to make even more money.

Does any one still actually remember what broadway used to look like and how busy it was?

Much of that area is fast becoming a distant memory. My kids only know it as a building area now. It is disgusting.
Pre-development????? I assume this is a pretty word for making a mess and leaving it for a number of years. Perhaps the aim is to leave it in such a state that eventually the council will beg for the land back and the Westfield can then sell it back for twice the cost. Would be a great way to make even more money. Does any one still actually remember what broadway used to look like and how busy it was? Much of that area is fast becoming a distant memory. My kids only know it as a building area now. It is disgusting. Xanadu5579
  • Score: 0

4:03pm Thu 25 Feb 10

Joedavid says...

Moth balled?
There is nothing to moth ball there!
What is this Pre-development work that is going on then?
Moth balled? There is nothing to moth ball there! What is this Pre-development work that is going on then? Joedavid
  • Score: 0

4:04pm Thu 25 Feb 10

Joedavid says...

Moth balled?
There is nothing to moth ball there!
What is this Pre-development work that is going on then?
Moth balled? There is nothing to moth ball there! What is this Pre-development work that is going on then? Joedavid
  • Score: 0

8:37pm Thu 25 Feb 10

OdsalMan says...

TWO SOLUTIONS TO CONSIDER:

Talk with Morrisons to take the remaining 50% unlet for a city centre supermarket

build 50% of the building and shops and for the remainder have as open space with maybe an outdoor market or recreation space

think out of the box Westfield, they will never get 100% uptake
TWO SOLUTIONS TO CONSIDER: Talk with Morrisons to take the remaining 50% unlet for a city centre supermarket build 50% of the building and shops and for the remainder have as open space with maybe an outdoor market or recreation space think out of the box Westfield, they will never get 100% uptake OdsalMan
  • Score: 0

8:13am Fri 26 Feb 10

Up with the partridge says...

ItchyBungle wrote:
Bully for Westfield. I think this might be another story by Will Kilner as there is no investigation and they have pretty much just printed the press release - or at best they have read the annual report and printed various paragraphs. . Furthermore what does "pre-development activity continue" mean?
Just what is that limp wristed paper the T&A doing to boost Bradford and to maek people such as Westfield account - ? Nothing it would seem
Shame on you Austin-Clarke
[quote][p][bold]ItchyBungle[/bold] wrote: Bully for Westfield. I think this might be another story by Will Kilner as there is no investigation and they have pretty much just printed the press release - or at best they have read the annual report and printed various paragraphs. . Furthermore what does "pre-development activity continue" mean?[/p][/quote]Just what is that limp wristed paper the T&A doing to boost Bradford and to maek people such as Westfield account - ? Nothing it would seem Shame on you Austin-Clarke Up with the partridge
  • Score: 0

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