An Australian consortium has become the new owner of Bradford's huge Broadway shopping development.

The £200 million scheme has been acquired by the Australian Westfield Group - regarded as the world's biggest shopping centre developers.

And today the firm pledged it was determined the showpiece centre would still open by its Christmas 2007 deadline.

One of Westfield's first jobs will be the award of the contract to demolish remaining properties standing in the way of the scheme - including the Petergate shop and office block and part of the existing Broadway scheme, including Bhs and W H Smith - once all acquisition agreements are finalised.

The Broadway scheme, for which leading retailers Debenhams and Bhs have already been signed up, was being developed by Stratford-based Stannifer.

Work is well under way on new road schemes and service trenches through a £20 million project called Connecting the City.

Westfield has bought out current developer Stannifer's parent company, Chelsfield, as part of a major portfolio acquisition in the UK wth a total value of nearly £1.2 billion.

John Burton, Westfield's UK development director, said: "We are very excited about the prospect of having the opportunity to deliver the project.

"We want to meet the interested parties as quickly as possible. We are doing everything we can to keep the momentum going on the project.

"The Connecting the City works are fantastic and I am full of praise for the Council. They are an indication that things are changing for the better.

"We want to deliver the project as quickly as possible. It is now in the hands of a company with truly global experience."

Mr Burton said he expected some Stannifer staff to remain on the scheme.

"They have a wealth of knowledge and good relationships and we hope we can gain their trust. Broadway will be one of our big developments."

News of Westfield's involvement in the scheme was welcomed by the groups involved in Bradford's regeneration.

Bradford Council's executive member for economy Councillor Simon Cooke said: "We haven't met Westfield yet but they are one of the world's largest shopping centre operators and they are very keen and excited about their acquisitions in the UK.

"They are big international players and we have got every opportunity for a good development in Bradford. I would not imagine there would be any major changes to the scheme."

Mark Cole, operations director of Bradford Centre Regeneration - the joint venture company set up to breathe new life into the city centre - said: "We have enjoyed working with Stannifer and are still working with them.

"It is an emerging picture but the potential involvement of the world's biggest publicly-quoted retail developer in Bradford is to be welcomed."

Jeff Frankel chairman of Bradford Retail Action Group said: "It sounds good news and I would look forward to the scheme getting signed up and going ahead."

Mary Frame, executive committee member of Bradford Chamber of Trade, said: "It sounds fantastic that the world's biggest retail operators ahould be involved. But it is absolutely vital for them to keep up the momentum. We don't want any delay."

Bradford North MP Terry Rooney said: "It sounds fantastic news to get such a major international backer coming to Bradford."

The Broadway scheme has planning permission for 588,500 square feet of retail space which would include two department stores, more than 80 other shops, 171 apartments, a 120 bedroom hotel and 2,500 car parking spaces.

Westfield said it was looking closely at the scheme but was unlikely to make major changes.

Mr Burton said: "Debenhams and Bhs are ready to go. There is very good interest in the scheme. People are starting to understand the potential of Bradford. We are excited about it. There are very few opportunities to start a scheme with a clean canvas."