ROSSENDALE Council has agreed to hold an open competition to find a private investor to redevelop Rawtenstall Market.

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.

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.

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.

At a recent council meeting, it was noted the market is a good asset for the town, it was in a pivotal position, the site was in need of investment and proactive management.

Speaking to the Lancashire Telegraph before the meeting, Cllr Alyson Barnes, 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.

“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.”