Three options have been put forward for the future of the cattle market in Louth.
East Lindsey District Council is expected hold a consultation on the week beginning July 17 on the future of the market.
This comes after the council’s original developer ASDA, which bid to take on the site in 2013, dropped out.
Currently, the council is legally bound to provide the town with a cattle market due to a charter which dates back to the 16th century.
Three options have now been put on the table for the market’s future. These include:
- The market would be sold to East Lindsey District Council’s selected bidder ADV Parternship, which would then see the market transformed into a retail-led development site. A new livestock facility would then be built at the cost of between £4 million and £5 million.
- The council would seek a Private Act of Parliament to remove the current obligation the council has to provide a ‘beast market’ in Louth. This would mean that the existing cattle market could be sold and the council would not need to replace the site.
- The council could withdraw ADV Partnership as the selected bidder and developer and refurbish the building at a cost of £700,000. However, in doing so the building would lose its sale value and would mean it couldn’t be redeveloped.
Following a Executive meeting on July 12, the three proposals are expected to go to public consultation, which will take place from July 17.
A final decision will be made on October 11.