The Executive Director (Development) has submitted a report to seek approval to fund and enter into contracts for the detailed design works, planning, and construction of major improvements to the Covered Market in line with the recently completed masterplan.

Cabinet is recommended to:

1.     Approve the Covered Market Masterplan and concept proposals;

2.     Delegate authority to the Executive Director (Development), in consultation with the Council’s Section 151 Officer, the Head of Law and Governance, and the Cabinet Members for Inclusive Economy and Partnerships, Finance and Asset Management, and Planning and Housing Delivery, to finalise the scope of works, undertake the necessary procurements, and enter into all contracts for the detailed design, construction works, and all associated professional services, for the regeneration of the Covered Market within the agreed budget;

3.     Subject to Council approval of the Budget, authorise to spend a capital budget of £6.87m starting in 2023-2024, to deliver the project. (The recommendation to Council to create this budget is part of the Budget report, elsewhere on this agenda); and

4.     Approve the payback of previously spent feasibility funding (£167,000) into the feasibility budget.

The Executive Director (Development) had submitted a report to seek approval to fund and enter into contracts for the detailed design works, planning, and construction of major improvements to the Covered Market in line with the recently completed masterplan.

In presenting the report the Leader and Cabinet Member for Inclusive Economy and Partnerships, Councillor Susan Brown, thanked officers for developing the masterplan, highlighting that it offered an exciting opportunity to ensure that the Covered Market continued to flourish and be a lively place in which people could shop and spend their leisure time.  The proposals had involved a wide consultation with traders, residents, key stakeholders, and experts in markets, and the result was a robust masterplan which would allow investment to be made in the market to support its development.  Proposed improvements, as set out in the report, included a performance space and a shared eating space.  The masterplan also referenced the leasing strategy; improving the entrances to the market; and making it more accessible and visible. 

The Regeneration Manager thanked all those who had taken part in the consultation, highlighting that their challenges and contributions had been very helpful in improving and refining the masterplan.  Responses received since publication of the Cabinet report had been largely positive, with many supportive phone calls and emails received, including from tenants of the market and stakeholders.  It was also noted that the Oxford Preservation Trust had written to Cabinet Members to encourage them to approve the officer recommendations.

It was noted that the Council was not the sole owner of the site, and partnership working would be required for delivery of the masterplan.  In response to the potential for delays which might be caused due to the involvement of other parties, officers responded that this would be managed so that delay in one area of the project could be compensated by progress in another.

Cabinet resolved to:

1.     Approve the Covered Market Masterplan and concept proposals;

2.     Delegate authority to the Executive Director (Development), in consultation with the Council’s Section 151 Officer, the Head of Law and Governance, and the Cabinet Members for Inclusive Economy and Partnerships, Finance and Asset Management, and Planning and Housing Delivery, to finalise the scope of works, undertake the necessary procurements, and enter into all contracts for the detailed design, construction works, and all associated professional services, for the regeneration of the Covered Market within the agreed budget;

3.     Subject to Council approval of the Budget, authorise to spend a capital budget of £6.87m starting in 2023-2024, to deliver the project. (The recommendation to Council to create this budget is part of the Budget report, elsewhere on this agenda); and

4.     Approve the payback of previously spent feasibility funding (£167,000) into the feasibility budget.