The independent report into the commercial viability of the Bradford masterplan in general and the Broadway shopping development in particular is excellent news.

It predicts that the regeneration of the city centre could bring in up to £265 million a year, with half of it coming from the Broadway shops due to be built next year.

This is confirmation of something that those who have a little vision have known about for a long time - that Bradford just needed to get its act together and get a project like this off the ground to be successful.

Will Alsop, the architect behind the masterplan scheme, has already said that Bradford should not try to compete with neighbouring Leeds, and he is right. Leeds is a bigger city and has a head start on Bradford in terms of investment. What Bradford needs is a good enough shopping experience for the majority of local people to want to shop here most of the time.

If they then want to make the occasional shopping foray into places like Leeds for a special occasion then that won't do Bradford any harm, but we have to make sure we are the first choice for normal, everyday retail spending.

The report has been conducted by an independent research company and is not just an internal survey to promote the masterplan. For those who have been wary or even dismissive of the ideas for Bradford city centre, it should give them some optimism that the masterplan is not just a design for pretty new structures but should bring into the city hard cash vital for our regeneration.