Bradford’s newest music venue has the potential to boost the council’s income by £17m over the next 25 years, the authority has said.
Trafalgar Entertainment was announced as the new operator of Bradford Live, a 3,800-seat former cinema, earlier this year.
Bradford Council said it has now signed a 25-year lease with the company, guaranteeing an annual rental income for the venue as well as a share of the profits.
The venue was billed as a key part of Bradford’s plans for its City of Culture year but was mired in controversy after the original operator, NEC Group, pulled out in September.
Trafalgar Entertainment has already installed thousands of seats in the 1930s Art Deco building since taking possession.
It is set to open in September, with a preview event due to take place on 1 August to mark Yorkshire Day.
The Yorkshire Symphony Orchestra will lead a celebratory concert called “Yorkshire Calling” at the newly restored venue, and will be joined by the Bantam of the Opera choir.
The choir is made up of a group of Bradford City supporters – known as Bantams – selected by the BBC.
Aside from the preview, no acts have as yet been confirmed to perform but the council said a full programme of events would be announced in the “near future”.
Councillor Susan Hinchcliffe, leader of Bradford Council, said: “Now that Trafalgar Entertainment are confirmed as the operators, we are happy to reveal the details of the contract.
“This project is about so much more than the money though; Bradford Live is a building the people of Bradford campaigned to save, and we did.
“It’s a building of social and cultural significance which has now been restored as one of the premier venues in the country with a bright future ahead under the expert management of Trafalgar Entertainment, who we’ve been delighted to welcome to Bradford.”
Initially forecast to cost between £22m and £25m, the venue has been funded by almost £44m from Bradford Council, with the rest coming from the West Yorkshire Combined Authority, the government and the Heritage Lottery Fund.