A new indoor market and events space will be created in a former Coalville pub, thanks to investment by Conservative controlled North West Leicestershire District Council.
The council has bought the former Litten Tree pub on Marlborough Square, with plans to transform it into a multi-purpose space for market stalls, food vendors, entertainment and events.
Regular outdoor markets will be held just outside the new indoor space once the planned redesign of Marlborough Square is complete.
The current market hall, which is located behind the Belvoir Shopping Centre, currently costs the council over £100,000 to maintain each year. The roof is leaking and some units cannot be used for health and safety reasons. £600,000 has been allocated by the council for the purchase and revamp of the Litten Tree.
Existing market traders are being supported to move into the new indoor market, onto the new outdoor market or into suitable retail space in the town.
The council also hopes to offer the opportunity for new businesses and start-ups to trade at the revamped indoor market and to programme entertainment and events there as part of its plans to regenerate the town.
Councillor Richard Blunt, Conservative Leader of North West Leicestershire District Council, said: “Our plans to help regenerate Coalville include a complete redevelopment of Marlborough Square – and the relocation of the market is an important part of that. The current market is in the wrong place and is held in a cold, leaky building. We want to support our market traders and new business ideas in a welcoming space that can host markets, pop up events and entertainment.
“The second phase of this work is to hold an open air market on the newly redesigned Marlborough Square. Whilst there has been some delay with this part of the project, we’re working to get it back on track and really bring the life back to this part of town.”