City of Culture to boost Bradford’s commercial property market

BRADFORD’s successful bid to be UK City of Culture 2025 will boost the city’s commercial property market, according to a Yorkshire property expert.

A UK City of Culture is chosen every four years, with Bradford’s successful 2025 bid. The honor has already been awarded to Derry-Londonderry (2013), Hull (2017) and Coventry (2021).

It is considered a coup for places that win the title because of the significant level of additional investment, publicity and jobs it can produce over the course of 12 months and beyond.

Those behind Bradford’s bid believe it will generate £700m and create 3,000 jobs.

David Cran, Yorkshire Director at Chartered Surveyors and Estate Agents Bradley Hall, said: “It’s fantastic that Bradford’s bid to be UK City of Culture 2025 has been successful. It is a great recognition for this rising city.

“This will undoubtedly have a huge positive impact on the economy of Bradford and the wider region. Evidence from previous towns that have been named City of Culture is that it provides significant investment and the GVA ( gross value added) is also improving.

“I’m sure this will have a ripple effect on the commercial property market and lead to greater demand and therefore an increase in value. In fact, there has probably never been a better time to invest in Bradford.

Since winning the title, Coventry has seen more than £172m invested in music concerts and an immersive digital art gallery, and a further £500m for the regeneration of the city.

A report examining Hull’s successful bid found the ‘most significant impact of all’ was around £676m of new private and public investment generated for the city.

“Being UK City of Culture will provide huge opportunities for businesses and investors in Bradford,” said Mr Cran. “It’s not often that a city has such a guarantee of activity and investment and I’m sure it will give investors enormous confidence.”

The year should offer more than 1,000 new performances and events, including 365 artist commissions, a series of major artistic festivals as well as national and international collaborations.

Themes will be rooted in Bradford’s unique heritage and character.

Shanaz Gulzar, President of Bradford 2025, said: “This is a huge opportunity to celebrate our extraordinary district and for our young and ethnically diverse population to become leaders and changemakers and start a new chapter in our history. .”

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