The developer behind official plans for the Odeon site will provide a “parent company guarantee” for the scheme, building owner the Homes and Communities Agency has confirmed.

Details emerged after a meeting the HCA held with campaigners looking to save the 1930s Odeon building from demolition.

David Curtis, the HCA executive director for the region, also told members of the Bradford Odeon Rescue Group that it cannot consider alternative proposals due to the “legally binding” agreement they inherited from Yorkshire Forward when they took over ownership in September.

Following the meeting on Thursday, Mr Curtis said it had been good to meet the members of BORG and explain what is happening with the plans for the former Odeon building.

“The development agreement with Langtree Artisan and the resolution to grant planning permission subsequently approved by Bradford Council still stand and we must observe the contractual terms we inherited.

“While Artisan H Ltd has gone into receivership, I explained that Langtree Group plc has confirmed it will provide a parent company guarantee to the joint venture to allow the development to go ahead.

“I confirmed that we expect to conclude our due diligence soon and the HCA will then need to sign the Section 106 Agreement in line with the development agreement. The local planning authority will then need to be satisfied that the development plans are viable and in keeping with the principles of the obligations under the planning permission granted in September 2009.”

He added that they had offered to take BORG members inside once the asbestos has been removed and they are confident that the building is safe.

The meeting comes just a week after the leader of Bradford Council wrote to Mr Curtis calling for the HCA’s future plans for the building to be made clear.

Councillor Ian Greenwood said: “The building has fallen into increasing dereliction and disrepair and many people are of the belief that this is a deliberate policy in order to justify the demolition of the building.

“The building’s future has long been a significant issue for the city and many people wish to see it refurbished and restored.”

He added: “The recent structural report that indicated the presence of asbestos has brought the issue to a head and many people are sceptical about the report’s conclusions and one can hardly blame them given the unfortunate recent history of the building.”

The HCA is carrying out repairs to the building and to remove asbestos. It is hoped that the work will be finished next month.

Once the repairs have been completed it is hoped that a Section 106 Agreement will be signed which is part of the planning permission and conservation area consent to demolish the Odeon.