A COUNCIL is proposing to redevelop a century old town market.

Rossendale Council bosses want to redevelop Rawtenstall Market by bringing in a private sector partner to fund an extensive refurbishment of the building and ensure it remains at the ‘heart of the community’ for future generations.

The current market hall in Rawtenstall, which first opened in 1906, consists of a traditional covered market hall as well as a front area that has cabins in an open environment and is open on designated days of Thursday and Saturday.

Rossendale councillors will discuss the idea to hold an ‘open competition’ and draw in interest from a range of businesses for the redevelopment of the market at Wednesday’s full council meeting.

Each business will be required to submit detailed documentation that includes designs for the refurbishment of the site, a full business plan and financial projections.

Informal discussions with Rawtenstall market traders and businesses have already started, according to council bosses, with the aim to have a new lease for the market confirmed by January 2019.

Cllr Alyson Barnes, who is the leader of Rossendale Council, said: “We feel markets have a lot of potential but because of a lack of investment they have not made that potential and as a council hold our hands up to that.

“People do not have much money at the moment but you can get good priced food and drinks still from markets.

“Town markets seem to be having a renaissance at the moment in other places with different craft and artisan products are becoming popular in markets.

“We think with the the right person, the right input and right investment Rawtenstall market could be much better.”

A private sector partner has ‘expressed an interest’ in taking over the market, according to the council leader.

She added: “A local person has expressed an interest a number of times but we just don’t know at the moment.

“I would rather have a Rossendale solution to this than a big national company coming forward.”

Cllr Andy McNae, who is the portfolio holder for regeneration, said: “We are going through a formal process and asking businesses to put their cards on the table and see what they will offer in terms of the redevelopment of Rawtenstall market.

“We need to make real progress with this because if we don’t do anything there is a danger of the market’s slow decline."