Victoria Market closure date to be agreed 'over the next few weeks'

An update has been issued by Nottingham City Council regarding the future of the Victoria Centre Market, confirming its intention to push forward with its closure. A statement from the authority's leader, Cllr Neghat Khan, says the council "cannot justify continuing to spend tax payer's money" on the city centre market.

Cllr Khan, also executive member for strategic regeneration, transport and communications, said: "Our intention is to close Victoria Market. We met with traders on June 20, today, to explain that the council cannot justify continuing to spend tax payer's money to heavily subsidise the market, and the ongoing costs of maintenance means that the market is no longer sustainable for the Council to continue to operate it.

Cllr Khan added that a closure date for the market will be agreed with the traders over the coming weeks, with the future of the vacant space also yet to be decided. She said: "We will work with traders individually over the next few weeks to agree a closure date and outline our approach and timescales towards closure."We will also work with asset managers, Global Mutual, to consider the long-term future of the vacant space.

This date came and went with no further certainty and it was eventually confirmed that negotiations had fallen through with Global Mutual, the asset managers of the Victoria Market. Traders remained in a state of limbo until a meeting called on December 11, last year, saw Nottingham City Council say that it wanted to close the market this summer.

The authority described the negotiations with Global Mutual as "both complex and protracted". The lease agreement is said to have cost the council £39 million over the next five decades.

Source: News Formal (newsformal.com)

United Kingdom Latest News, United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Council accused of 'running down' market as closure date loomsNottingham City Council said it wanted to close down the Victoria Centre Market in the summer
Source: nottslive - 🏆 96. / 52 Read more »

Market trader and 'real Nottingham man' honoured by pub after deathNottingham designer Paul Smith used to buy yarn from John Green's Victoria Market stall
Source: nottslive - 🏆 96. / 52 Read more »

Riverside dubbed 'Goose Fair by the Trent' after fireworks cancelledNottingham City Council has blamed the city's finances for the scaled back event
Source: nottslive - 🏆 96. / 52 Read more »

Steve Cooper: Leicester City name former Nottingham Forest boss as new managerLeicester City have appointed former Nottingham Forest boss Steve Cooper as their new manager on a three-year contract.
Source: SkySports - 🏆 58. / 63 Read more »

Steve Cooper: Leicester City appoint former Nottingham Forest bossPremier League newcomers Leicester City appoint former Nottingham Forest boss Steve Cooper as their new manager.
Source: BBCSport - 🏆 111. / 51 Read more »

Steve Cooper: Leicester City appoint former Nottingham Forest bossPremier League newcomers Leicester City appoint former Nottingham Forest boss Steve Cooper as their new manager.
Source: bbcemt - 🏆 120. / 51 Read more »