The move follows the completion of a £20 million council-led project to improve roads in and around the city centre and reintegrate the Little Germany area and the Cathedral Quarter.
The Connecting the City project is funded by the city council, the EU, single regeneration budget cash and the Department for Transport. It also paves the way for the forthcoming Broadway redevelopment.
Westfield, which specialises in shopping centre developments, will now begin to demolish properties at the 1960s pedestrian precinct.
Bradford City Council leader Margaret Eaton said: "The Broadway development is one of the most important to take place in the city for a very long time. This handover marks a significant milestone in realising the regeneration of the city centre."
She added: "The Connecting the City team has done a wonderful job in preparing the road network ahead of the development and I am sure that Westfield will do just as good a job and deliver this really exciting facility for Bradford."
Over the coming weeks the buildings on Broadway will be pulled down to level the whole site. The demolition programme is a major part of work to prepare the land for the 55,000m2 development, which is due to start next year. The scheme features a range of shops, a department store, offices, apartments and car parking facilities.
Westfield development executive Neil Maclure said: "There is a huge amount of interest in the Broadway development and the safety hoardings around the site perimeter have clearly outlined the huge scale of the project. The demolition of the last buildings on the site is a clear sign that the scheme is moving forward."