AN open day will be held next month at the beleaguered Xchange building in Bradford city centre in the hope of providing reassurance to potential investors.

A complex of new apartments in the building, above easy Gym and the former Five Guys restaurant, was left hanging in the balance in April last year when the original company behind the 126-flat scheme, Pinnacle (Bradford) Ltd, went bust. Administrators Quantuma tied up a deal to secure its future in September last year and the deal was approved at the end of February.

Some of the original investors handed over between 50 and 80 per cent of the value of their flats as a deposit, which they had stood to lose if a new deal had not been secured.

Once the administrators were appointed and a deal was secured, buyers were asked to pay off the rest of their flats and hand over an extra 14 per cent to see the flats completed.

Some investors agreed to hand over the extra cash, but others said they could not risk more money and pulled out - losing out on the original investment.

Quantuma was appointed as administrators of Pinnacle (Bradford) Limited, part of the Manchester-based Pinnacle Group, after the construction company ran out of funds in 2017.

Now Select Portfolio have created a new website for the development - - and are inviting prospective investors to take a look on Thursday, May 2.

A spokesperson for Select said: "The purpose of the event is to allow prospective investors and those with an interest in the building to met with one of the directors of the rescue company. The Xchange is an iconic building, occupying a prime location in Bradford. The recent problems which occurred under the previous developer have caused anxiety for investors but also for the community on Bradford.

"The purpose of the event is to provide reassurance that progress is being made.

"We are looking to speak to prospective investors interested in buying property in the building, provide an explanation of timelines and an overview of the challenges overcome to this point. The building is still a construction site, and there is little to see at this point, but it is useful for those interested to just understand the scale of the project and the opportunity available to investors."

Visits are by appointment only and for approximately 30 minutes each. Contact the Select Portfolio office on 01274 036511 to arrange a suitable time to meet.