The Broadway, a shopping centre in the middle of Bradford, has exchanged to sell for more than £70 million, CoStar News can reveal.
Savills, on behalf of the Law of Property Act receivers, brought the mall to market last year seeking £74.23 million, or a net initial yield of 9.5%.
The buyer is understood to be Eurofund, which is acting alone.
Set across 10 acres, The Broadway comprises 572,876 square feet of retail and leisure, anchored by occupiers including Primark, JD Sports, Boots, Superdrug and Next. The scheme generates £10.13 million a year, with 85% of gross income secured against tenants with more than two years to lease expiry, and 33% secured against non-retail uses.
Bradford is seeing major investment which, combined with it being named as the City of Culture, has been helping regenerate its core. This includes £50 million put into the entertainment venue Bradford Live, £23 million of investment in Darley Street Market and the City Village project, which proposes 1,000 homes in the city centre on the sites occupied by Oastler Market and Kirkgate Shopping Centre.
NatWest sold Project Mercatus, a portfolio of loans to institutionally-owned city centre shopping centres, including the Broadway, in 2021, in the first major bank deal since the onset of the pandemic.
The portfolio, representing debt of over £400 million, was sold at an undisclosed discount to Attestor and Octane Capital Partners, two veteran investors in loan portfolios requiring work-out solutions, and Ellandi, the community retail asset manager later bought by NewRiver REIT. It included the mall and the adjoining Light Cinema. The shopping centre was previously owned by Meyer Bergman.
The sale comes as Eurofund, with Henderson Park, closes in on a sale of the Silverburn shopping centre near Glasgow to Landsec for around £230 million, in a deal first tipped by CoStar News.
Cushman & Wakefield is advising the vendors while CBRE is advising the potential buyer.
Savills says the outlook for shopping centre investment in 2026 is materially brighter in its latest report on the market.
It reports that 17 schemes totalling £873 million were under offer at the beginning of 2026. It forecasts full‑year volumes will exceed £2.5 billion, potentially the highest annual total since 2016. Continued yield compression is expected across super-prime (now 7.25%), prime (9.5%), and town-centre-dominant assets (10.50%). Savills adds that debt market strength will further support competitive bidding processes, particularly among core-plus investors.
It also expects a pipeline of "top-quality assets" to be brought to market over the next 12 months, estimated at £3 billion, including around £900m in partial stake disposals. The market is also poised to absorb an "anticipated wave of disposals from ex‑Intu centres" in 2026-27.
Savills and Eurofund declined to comment.