This decision will ensure the business case of the masterplan is as accurate as possible. The masterplan will create a robust vision for the successful long-term future of market and its traders, under the stewardship of the City Council.

To allocate an additional £40,000 of feasibility funding to the Covered Market masterplan work.

The scope changes comprise: understanding the potential to move the electricity substation; undertaking a transport survey; more detailed analysis of potential changes to the service yard and Market Street; procuring commercial agents; engaging a quantity surveyor to cost the asset management and maintenance plan; increasing amount of professional support for trader consultation; receiving formal transport advice from the County Council.

The budget increase also includes a 5% contingency allocation, so that any future small budget increase requests could be reviewed by the Project Board. Before this decision, the total approved feasibility budget for the project was £115,500. After this decision, the total feasibility budget for the project is therefore £155,500

This decision responds to challenges which were not anticipated at the project’s inception. It increases the scope and extends the programme of the masterplan work to Spring 2022, in order to give the Council more confidence in any future decision it reaches with regards to the long-term investment in the Covered Market.

No scope and budget increase – this was rejected because it would not have enabled the Council to create a robust masterplan, so there would have been over £100,000 of abortive works.

Partial scope and budget increase – each element of the scope increase was considered by Development Review Group and Development Board. Elements which were not deemed necessary during the masterplan work were removed from scope, however it was agreed that all remaining elements of the request were essential to mitigate against the abortive works risk above.

Carolyn Ploszynski, Head of Regeneration & Economy in consultation with Cllr Alex Hollingsworth, Cllr Susan Brown, and Cllr Ed Turner.