The Executive Director of Development has submitted a report to seek approval to implement the recommendations set out in the refresh of the Covered Market Leasing Strategy.

Recommendation: That Cabinet resolves to:

1.    Approve the Covered Market Leasing Strategy.

Executive Director of Development had submitted a report to seek approval to implement the recommendations set out in the refresh of the Covered Market Leasing Strategy.

Cllr Ed Turner, Cabinet Member for Finance and Asset Management, introduced the report. The Covered Market was a jewel in the crown of the City Centre with a wonderful history and atmosphere. It was emerging from a difficult period as a result of some pandemic enforced closure as well as a decline in tourist and student numbers. The strategy before Cabinet was ambitious and sought to develop the Covered Market and what it had to offer in several ways. There would be  greater focus on leases to those offering food and drink. It was proposed to open the Market for longer hours and that it should contribute to the evening economy . There would be particular support  for local independent traders. Significant investment was planned to ensure its physical sustainability. The Market would be promoted more widely than hitherto to ensure a better understanding of what it can offer. He thanked officers for bringing the project to this point as a result of which the Council would be well placed to make the best of this important resource for the City Centre.

In relation to the promotion of the Market via social media, it was noted that the previous year had caused many Market traders to offer an on line ordering service, something which would continue. The use of social media would also bring the Market to the attention of a younger audience which was important.

The Chair shared Cllr Turner’s view about the importance of the Market for the City Centre, as a place to visit and to shop, especially for local people.  She was pleased that the Council had been able to support the Market’s traders during an exceptionally difficult year and thanked officers for all their work in relation to it.

Cabinet resolved to:

1.    Approve the Covered Market Leasing Strategy

Cabinet, at its meeting on 16 June, will consider a report on the Covered Market Leasing Strategy. The Committee is asked to consider the report and agree any recommendations thereon.

Councillor  Ed Turner, Cabinet Member for Finance & Asset Management; Jane Winfield, Head of Service for Corporate Property; Elaine Philip, Markets’ Manager; and Emma Gubbins, Senior Surveyor, have been invited to attend for this item.

This item was discussed in confidential session.