Walsall Council reveals plans to revitalize its three markets, aiming for profitability with upgrades and new features.
In the fiscal year 2023/24, Walsall market generated £33.5k in profit, while Bloxwich market lost £38.4k, and Willenhall market incurred a loss of £89.3k. To address these financial challenges, Market Curators conducted a comprehensive review of all three markets, resulting in several recommendations.
The review, funded by the government, assessed finances, customer demographics, and rent structures. Annual staffing costs for all three markets amount to £59,010. Walsall market rates are £47k annually. Willenhall’s rates stand at £4k, and Bloxwich’s at £3.6k. Willenhall also faces £53k in management and contractor fees.
Proposed improvements for Walsall market include the installation of fixed, modern kiosks to serve as dining areas, along with a stage and large screen for hosting events. Another concept involves establishing a new indoor market featuring kitchens, a bar, and retail kiosks. The estimated cost for the outdoor plan is £1.47m, while the indoor plan is projected at £3m, with the aspiration of generating £500k per year and attracting a younger demographic of shoppers.
Willenhall market is identified as requiring the most significant intervention. Suggested upgrades include the introduction of new pop-up stalls owned by the council, which traders would set up daily. A kiosk would serve as storage for the stalls and function as a coffee shop. This plan requires a £104k investment. Closing the market would negatively affect the town. Changes would save money.
Bloxwich market necessitates weather protection measures and improved signage to attract more shoppers. The estimated cost for this plan is £75k, which would be funded by the UK Shared Prosperity Fund.