Saturday 25 July 2009

New Victoria - the real question is "will it ever get built"?

Langtree Artisan have issued a new set of designs for the building to replace the empty, sad and semi-derelict former Odeon building in Bradford City centre. As with previous proposals there are sharply divided opinions between the very vocal and well organised Bradford Odeon Rescue Group (BORG) and the more quietly expressed views of what we might call Bradford's "establishment". I am not planning to enter this debate - although I will note that no opposition to demolition was raised when the previous private owners sought to build a night club, restaurants and bars on the site.

What I am concerned with is the prospects for the development - indeed any development. It is not simply that the current development market isn't delivering these types of multi-use developments but that the continued controversy acts to put off investors and lenders as well as undermining the interest of potential end users. More importantly, a scheme predicated on hotel and residential use raises significant doubts in my mind about deliverability. There are too many schemes - not just in Bradford - that await some mythic market shift so as to begin. In truth - and I hope those clever folk at Langtree Artisan can prove me wrong - the economics of this type of development simply don't stack up. Unless of course there's a copper bottomed hotel end-user already lined up! And do we really want more city centre apartments that don't sell?

The Odeon remains the big millstone round the neck of Bradford's regeneration - we are allowing the continuing argument about its future to disrupt the creation of a sensible approach that recognises the emerging role of city centres as places of leisure and pleasure rather than locations for commerce and shopping. The proposed scheme - now on-line - remains rather uninspiring, rather dated and chasing a past vision of the City.

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