Manchester city council is proposing a renovation of New Smithfield Market to create a new fish market.
The 35-acre site, built in 1974, current includes wholesale fruit, vegetable and fish markets, and is the largest wholesale market in the North West, with 260 retail units.
In a report to the council’s executive, the city’s treasurer and strategic development director have recommended that the council add to a £1.4m grant already in place with a £5.55m capital programme for the project.
This would include the development of new retail space, car parking, landscaping works and demolition works.
The total cost of the scheme would be £8.75m, to be financed by the Capital Fund, rent forecasts and service charge revenue, as well as capital receipts from land sales.
An earlier proposition in 2008 would have seen the market refurbished for £20m, but the new scheme is said to represent “significantly improved value for money”.
The project also includes refurbishment of the area’s wholesale fruit and vegetable market and the former Fresh Direct building.
