Council seeks developer for £5.5m food market
City of Wolverhampton Council is poised to appoint a developer to its planned street food market, which it says will become a ‘vibrant cultural and commercial destination’ for the city centre.
The city council’s cabinet will meet next week to approve recommendations to appoint a build and operate partner for the box market on a 25-year deal, on an as-yet unnamed city centre plot.
Plans for the market were first tabled in 2021, but postponed following the outbreak of the Covid-19 pandemic.
According to documents set to go before cabinet on 8 July, the lease would be worth £4.5m per year, returning more than £140m to council coffers over the length of the agreement.
If approved next week, the market could be launched as early as November this year.
The council says a recent market assessment by independent experts Leisure Division shows “strong and growing demand” for food-hall‑style destinations, even while traditional food and drink businesses face tougher trading conditions nationally.
The market is forecast to bring in 400,000 to 500,000 visitors a year, which it says will support wider regeneration and place-shaping in the city centre.
Councillor Stephen Simkins, City of Wolverhampton Council Leader, said: “Subject to Cabinet approval, we are seeking an experienced operator with a proven track record of running successful box‑style venues and a passion for delivering high‑quality, inclusive, community‑minded spaces.
“We’ve wanted to bring a box space to Wolverhampton for a while, so I’m delighted we’re finally pressing ahead. This is a chance to create something really special – somewhere that feels authentically ‘Wolves’, gives people more reasons to spend time in the city centre, and attracts visitors from across the region.”
He added: “Alongside major investment like the £83million Smithgate development, the transformation of The Halls and huge upgrades to public spaces, safety and lighting, this new venue will help make our city centre an exciting, vibrant place day and night.”
Cabinet will decide on the proposals on Wednesday, 8 July.
