Brierley Hill's market hall set to be sold in £1m deal to secure future

An agreement has been reached over the landmark building in a deal to pave the way for fresh investment in the indoor market and end uncertainty over its future.

It will be taken over by a consortium comprising of some of the current owners, meaning it will remain in the family, which has owned it for almost a century.

The deal, which is expected to be completed in the coming weeks, brings assurances for traders about their future on High Street.

There had been concerns what the building changing hands could mean for the town's indoor market.

Market manager Steve Banks said: "It is very positive news and means there will be new investment in the building itself.

"Money will be put into new facilities once everything is complete.

"Things are getting more buoyant in there. Traders are more positive about the place and hopefully that will come through to the customers."

Mr Banks said upgrades at the market would include new ground floor toilets, including disabled facilities, as well as improvements to the outdoor market.

A letter has been sent out to traders from Mr Banks and fellow market manager Wayne Jones informing them of the development.

It said: "Following our recent discussions with the current market owners, we can confirm that the sale of the market is proceeding and will soon come to completion.

"We are pleased to say the new purchasers will be a consortium comprising of some of the current owners.

"Therefore the market will remain in their family and continue to be a family-owned and run business."

Brierley Hill councillor Rachel Harris said the news was a huge boost for the town. She said: "It's excellent news for the high street and excellent news for the traders.

"This market is so important to Brierley Hill, it is the heart of the high street and I'm really pleased someone is prepared to step in and put the investment in so we can revive it and show people the best we can offer for Brierley Hill."

The market hall, as it looks today, was built in 1930. It has been in the hands of the Shapeero family since the 1920s.

In 2008, the building underwent a £150,000 facelift which put an end to speculation it was closing.

Around 100 stallholders are based at the market hall, selling a range of products.

There had been concerns among traders about what the future would hold when the building, which is one of the key features of Brierley Hill High Street, was put up for sale last year.

Managers were quick to stress that there would be no danger of the market closing.

The market hall has been up for sale for almost a year but advanced discussions have been going on behind the scenes for months.