Leaders vow Market Hall success – but say now not the time to judge

Inside the Market Hall in Derby. Image by LDRS.

Derby leaders have said now is not the time to judge the Market Hall’s performance – but have vowed it “will be successful”.

The city’s Labour administration approved to explore a private operator running the venue following a critical report about its opening and public offer.

Derby City Council has undertaken a review of the Market Hall, which reopened almost 18 months ago after a £35 million restoration.

The review stated the Market Hall is “attracting significant footfall, particularly at peak times and during events”.

But the council’s own business case was strongly criticised in an “honest assessment” of the venue’s performance so far.

It said the Market Hall reopened “without clear commercial objectives and without a single, insight-led commercial and marketing plan”.

It added the business plan “does not currently include clear, measurable commercial objectives or performance targets” – making it difficult to define what success for the venue means.

The shortcomings have led to challenges with traders experiencing “lower than anticipated sales and quieter periods”.

However, traders have backed the Market Hall and recently told the Local Democracy Reporting Service (LDRS) footfall was good and time was needed to make improvements, and several shoppers spoke to the LDRS about how they loved going to the Market Hall and were glad to see it back open – but did believe changes were needed.

Following a council cabinet meeting on Wednesday (October 7th), the authority approved exploring a partnership with a specialist commercial partner “who could bring additional skills in trader mix and recruitment, marketing, customer experience and performance”.

Under any future arrangement, the council would retain ownership of the building and strategic control.

But Derby leaders said “all options are on the table” regarding the Market Hall’s future.

Council leader Nadine Peatfield said: “Experience elsewhere demonstrates that transformation takes time.

“Chester Market is a thriving place, often highlighted as one of the leading examples of the modern market hall concept.

“But it required several years following redevelopment before the new model became fully established and commercially successful.”

Derby’s other leading Labour councillors said it would be time to judge the Market Hall’s success when other regeneration projects in the city centre are complete, such as the Market Place and Becketwell.

Councillor Carmel Swan said: “I always feel the Market Hall is just part of the jigsaw. So when you think about where the Market Hall is and the redevelopment around there, it is almost in early in the game.”

Councillor Shiraz Khan said: “It is important to judge this when the whole of the city centre is developed. It is not where we would like it to be but it will be eventually.”

He later added: “We will make it successful.”