BREAKING: The Newark and Sherwood District Council has just announced a significant shift in plans for the 14 Market Place property, scrapping its intended use as a community space and opting for a commercial lease instead. This decision, confirmed at a council meeting on December 9, 2024, comes after both Lincoln College and CVS declined to take on the space, citing it as “not large enough” for their needs.
The council had previously allocated a budget of £373,000 for the redevelopment of the building, envisioning a vibrant community hub on the ground floor and a residential apartment above. However, following the partners’ withdrawal in May 2025, council leaders faced an urgent need to reassess the property’s future.
Despite extensive outreach efforts to local businesses and community groups, no viable tenant emerged to manage the community space. This lack of interest has now led the council to pivot towards leasing the ground floor and basement as commercial units, expected to generate approximately £8,000 annually—an increase from the initially projected £6,000.
Council leader Paul Peacock expressed his disappointment over the situation, stating, “This has been a difficult issue… it’s clear that there’s a need for a community space in that area of the market place.” He acknowledged the challenges faced in finding a suitable tenant but emphasized the importance of maximizing the value of this key property.
The new plans will not affect the upper floors of the building, ensuring that the residential aspect remains intact. The decision to shift to a commercial model aligns with the council’s broader strategy to enhance the town center and make productive use of its assets.
As the council moves forward with this change, attention will now focus on potential businesses that might occupy the space, as community leaders and residents alike express concern over the absence of a local hub. The urgency for a community presence in the market place remains, and future discussions about addressing this need are anticipated.
Stay tuned for further updates as this story develops.
