Peterborough Metropolis Council has introduced in the present day that it’s contemplating a relocation of the market to the center of town centre early subsequent yr.
If the plans proceed, bespoke stalls could be created alongside the centre of Bridge Road, with a meals court docket launched in one of many retail models in the identical location.
The market will proceed to commerce 5 days every week for current merchants which can be relocating and could have versatile stalls for many who need to commerce for fewer days.
There will even be the choice to broaden it to incorporate seasonal/pop-up markets, resembling a vegan, Christmas or farmer’s market.
Not all the present merchants can be supplied the likelihood to commerce inside the new website. The brand new market must be successful and so it’s important it’s populated with viable unbiased companies. There are a number of merchants who, regardless of greatest efforts, struggled to pay their lease previous to the Covid-19 pandemic and have important lease arrears.
Peterborough Issues requested the council earlier this week if there had been any replace on the way forward for the market, which has change into a sizzling subject in mild of the redevelopment plans for Northminster – which included no provision for merchants.
In June new council chief Cllr Wayne Fitzgerald promised merchants a dynamic future” throughout a tense assembly on the market.
The council is working with specialist market growth firm, Quarterbridge, to design the brand new market and handle the relocation.
A planning utility can be submitted in November for the placement, which has hosted a collection of profitable continental markets prior to now yr.
The brand new market will start buying and selling as quickly as attainable within the new yr and is being deliberate to extend footfall and revenue for merchants and create “a contemporary, vibrant and various providing that turns into a must-visit location within the metropolis centre”.
Till then, the present market stays open in its present location, which has change into dilapidated lately.
Positioned near Cathedral Sq., on the identical road because the proposed new Vine library and tradition hub and inside strolling distance of the brand new ARU college and Fletton Quays, the council believes that the brand new Metropolis Market could be in a super place for each merchants and clients.
Councillor Steve Allen, cupboard member for housing, tradition and communities at Peterborough Metropolis Council, stated: “The Metropolis Market performs an essential position within the identification of a metropolis and its cultural, group and retail supply enhances the broader metropolis centre.
“We’re eager to breathe new life into the Metropolis Market so it turns into a vacation spot for folks to go to. By relocating it to Bridge Road and making a bespoke providing with quite a lot of stalls, merchants will profit from elevated footfall. Additionally it is envisaged that current store retailers in Bridge Road will even profit from the elevated buyer stream that the market will entice to this location.
“Sadly, for this new location to work, we’d like to ensure will probably be profitable and for this reason we’re unable to relocate merchants who’re in lease arrears to the brand new website.
“That is in the most effective pursuits of these merchants who’re in debt, as we don’t need them to get right into a worse state financially, and the market as an entire as we wish the brand new enterprise to be successful. It will even be unfair on these merchants who do pay lease and taxpayers of town who’re supplementing these in arrears, which means we’ve much less cash to spend on offering different very important providers.”
A call on the long run location of the market can be made in November, following a interval of session.
The present location of Northminster, the place the market at present trades, will proceed to be developed into reasonably priced properties. Work is because of start in April 2022.
The market continues to commerce as traditional right now.