Developer of town market pulls out half way through

‘BUMP IN THE ROAD’ - BUT NEW CONTRACTOR WILL BE CHOSEN

REGENERATION: Work is under way on the conversion of a former pub in Coalville

A MAJOR regeneration scheme transforming a derelict Coalville pub into an modern indoor market has hit a “bump in the road” after the developer pulled out half way through the £600,000 project.

North West Leicestershire District Council has revealed it is on the lookout for a new contractor following the unexpected departure of Westone Housing.

The former Litten Tree pub, in Marlborough Square, had been undergoing work to covert it into a market hall featuring stalls and food vendors, as well as flexible space for entertainment and events.

The scheme had been given the goahead by the local authority’s planning committee at the end of last year, with work starting on the Newmarket development in January.

Peterborough firm Westone Housing reportedly cited economic fallout from the coronavirus crisis as the reason for its decision.

A spokeswoman for the district council said: “Work began in January, but with the work about 60 per cent complete, the contractor has been forced to pull out of the contract due to Covid-19 and the challenges it has placed on the day-to-day operation of the business.

“The district council remains committed to completing the project and its cabinet will meet later this month to consider the options available to finish the work, while still achieving value for money for taxpayers.”

Councillor Richard Blunt, leader of the council, said the aim was to find a new contractor which can complete the project “as soon as possible”.

“We are determined to finish Newmarket and open it for the benefit of our market traders, shoppers and the Coalville community as soon as possible,” he said.

“This a frustrating bump in the road that is out of everyone’s control and highlights the pressures Covid-19 has unfortunately put on businesses. It does not, though, change our plans and aims for Coalville.

“Covid-19 makes regeneration in the town more important than ever – and delivering Newmarket will be a key step.

“We’re 60 per cent of the way through and we’re determined to have the project finished as soon as practically possible.”

“Communities, businesses and individuals are all facing challenges in the current climate but looking to the future this remains an exciting time for Coalville.

“Newmarket will be completed, the new owners of the Belvoir Centre have unveiled exciting plans for their centre and just last month we submitted our Future High Streets Fund bid to government, with the aim of securing millions of pounds of investment.”

The council has said Coalville’s current market building, off Hotel Street, will remain open until Newmarket is completed.

The spokeswoman said: “We plan for Newmarket to open later this year, subject to the Covid-19 restrictions continuing to ease and are committing to keeping the public regularly updated.”

No-one from Westone Housing was available to comment.