A NEW “enterprise zone” in Bradford will help tackle the “severe shortage of good quality modern industrial units” in West Yorkshire - according to a new report.

Last year Bradford Council approved plans to build industrial units on a long derelict area of land at Parry Lane. The scheme was one of several new Enterprise Zones planned for sites across West Yorkshire.

Work to build the units on the site is expected to be completed by 2025 - and once fully let the development is expected to have brought 489 jobs to the area and created £166 million “gross value added.”

West Yorkshire Combined Authority will be funding the scheme with £6.9 million, £5m of which will come from the Government’s getting building fund.

At a meeting of the Authority’s Investment Committee on Thursday, members will be asked to give the green light for a full business case for the site to be developed.

Bradford based Astonish's plans to move to new site in city are approved

A report to the Committee says the high demand for units at Baildon Business Park highlight the need for such units in the District.

The investment is needed due to the high costs of developing the land - which has put off any potential investors over the years. Works such as creating a new access road into the site are said to be needed to make the area an attractive site for businesses to move to. These works are due to be completed by March 2022.

A report to the Committee says the enabling works alone will create 77 temporary jobs.

It says: “Market demand has been assessed, including recognising the demand seen ad Baildon Business Park, and highlighting the volume of enquires recorded for modern units across Bradford as a whole, and specifically at the Parry Lane site.

The market demand assessment demonstrates that there is a lack of good quality supply of modern industrial accommodation.

“This combines with a lack of supply together with strong demand as identified by local agents that report there is a severe shortage of good quality modern 10,000-50,000 sq ft industrial units across West Yorkshire.

“For each £1 invested, it would generate £1.72 of investment.”

In 2018 Bradford Chamber of Commerce released a report that claimed the lack of available industrial units in the area is an “obstacle” that Bradford needs to overcome to meet its potential.

Parry Lane was one of three Enterprise Zones in Bradford proposed by the Combined Authority.

Work is well underway at the first of these, at Gain Lane. Cleaning products company has announced plans to expand and re-locate to thaT site.

The third zone is due to be built at Staithgate Lane - although that project is in its early stages.