New owner saves Cradley Heath's crisis-hit market
The future of the troubled Cradley Heath Market has been safeguarded after being sold - with new owners planning to revamp it.
A London-based investment firm has bought the market and now plans a refurbishment, much to the delight of traders.
The market went into receivership in March, casting doubt on its future.
It went up for sale with auctioneers Allsop in October with a guide price of £600,000 although initially failed to sell. An investment firm has now bought the market, and 24 surrounding shop fronts, for a knock-down price of £450,000.
Stallholders and councillors, who have been told the revamp plans, held a meeting last night (WED) to discuss the development.
Councillor Anne Shackleton said: "We welcome the development although we are not sure what the buyers envision, but it sounds as though the firm has experience and believe they can improve the situation in the town centre."
She said the firm had already made several suggestions as to how else the 24 empty shop fronts included in the market sale could be used.
"One idea that was communicated to me was the possibility of turning one of the vacant shop fronts into a gym," Councillor Shackleton said.
"I think that is a great idea as gyms in town centres are very popular because of accessibility and that would be a great draw.
"We just look forward to the redevelopment and hope the new owners will breathe new life into it."
Gary Link, who has been working on the same fish stall in the market for 23 years, said: "We are very excited about the market's future after the sale.
"It is great that the investment company that has bought it is planning to keep it as a market and it sounds like they have some really interesting ideas to bring footfall to the bottom half of the town.
"This is just what the market needs and it will also hopefully bring in a new generation of shoppers who may not have thought about the market before.
"It will be a long process but at least now something is happening."
Councillor John Tipper added: "I think the idea the firm that bought the market had is to renovate it and keep it functioning as it is whilst they lease out the shop fronts that are included."
