Market 'not where we want it', admits council

Lincoln's Cornhill Market "isn't where we want it to be", the council has admitted.

The two-year project to transform the market hall - formerly known as Central Market - was completed in May last year at a cost of almost £8m.

But the market has struggled to keep tenants, with 14 units currently open compared to 19 this time last year.

City of Lincoln Council insisted it was working hard to encourage shoppers to visit the market during "challenging conditions" and said it had received more applications from would-be traders.

A space for fresh produce, designed for a butcher or a fishmonger, is also being converted to general stall space after lack of interest.

According to the Local Democracy Reporting Service, the market brought in £124,000 less than expected last quarter, leading to questions from opposition councillors about its future.

Liberal Democrats councillor James Brown said at a meeting on Tuesday that if the losses continued, it would be worth two Christmas markets.

But Labour councillor Joshua Wells, the authority's portfolio holder for inclusive economic growth, defended the market's performance.

He said: "We have lost traders for a variety of reasons. Some have moved to independent premises or moved online.

"Since the business case was first put in, there have been economic shocks and the ongoing effect of the pandemic which has changed shopping habits."

Wells highlighted the Teenage Market, the Festival of History and youth pop-up The Zone as efforts to bring people into the area.

"There is not a simple fix. Markets up and down the country are facing similar or worse situations," he added.

Five retail stores and one food venue have applied for space at the market, councillors were told.

Correction 29 September: On 27 September, a version of this story quoted Councillor James Brown comparing the shortfall in market profits to the cost of two Christmas markets. LDRS has now issued a correction to make clear that Councillor Brown said that if losses continued the shortfall would be worth two Christmas markets.

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