TRADERS are preparing a campaign against plans to 'sell' Accrington Market Hall to investors.

Recently Hyndburn Council announced they were planning to look at buildings - including the Town Hall - for ways of raising cash.

Now it has revealed they are hoping to hang on to the freehold of the historic town centre market building, while offering a partner a 125-year lease, in a bid to attract outside investment.

Market bosses today called the plans a "125 year mortgage" and said they feared the traders could suffer.

But the leader of the council claims the move could be the turning point in regenerating the market.

Neville Singer, chairman of the Market Tenants' Association, said: "If a developer takes over management they might take over rent levels. We have no control over that and the council have no control over that. The place could be empty.

"Many of the tenants are investing in the units and refurbishing but the council aren't prepared to do it. There must be other ways to get them to refurbish the market hall without selling it.

"We have a meeting on Tuesday. We will be polite, but if we don't get the answers we want we shall probably campaign against the sale."

Accrington Town Hall and Oswaldtwistle Civic Theatre could soon be run by a trust, which would take administrative control of the buildings to save the council money.

But today Councillor Peter Britcliffe, leader of the council, denied the market hall move was intended to save funds, and revealed the facility made money.

He said: "We want to generate investment into the borough to regenerate. At the moment we feel that the market hall could be a major attraction in Accrington. It has lots and lots of potential and what we need to do is work with others to attract the investment that is needed to turn things round."

Coun Britcliffe made his sell-off plans known at a meeting of the full council. Officers are now bracing themselves for offers for buildings and contracts from the private sector.

But Councillor Jean Battle, leader of the council's Labour group, said: "The council leader hasn't consulted with us and he hasn't consulted with the stall holders. We don't know what he wants to achieve, whether it's going to be private or part-private owned.

"We will be taking a stance against any form of privatisation against the hall."