Autumn date for start of work to refurbish Victorian Market in Inverness
The ambitious refurbishment of the Victorian Market in Inverness is expected to start this autumn, having been delayed due to the coronavirus pandemic.
There will also be additional costs because of extra measures required and the work is likely to take longer than previously anticipated.
But the planned revamp should protect the attraction from the economic uncertainty caused by the pandemic, according to a progress report to be presented to city councillors on Thursday.
Councillors will also be asked to agree to a permanent post of specialist market manager to focus on marketing, events and transformation projects and to be funded from the Inverness Common Good Fund.
Work had been set to start last month on the £1.5 million project which will include creating a new-look market hall area with a central event space and grouping similar retailers together in themed zones.
A report by senior council officials stated a preferred bidder is in place and it is hoped work will start in the autumn once the contract has been awarded for the project which is expected to take 12 to 15 months to complete.
“Due to Covid-19, additional measures will be required, and these will result in additional costs and the contract period extending, potentially, to 15 months,” the report stated.
The Town Centre Fund, supported by the Scottish Government, is contributing£250,000 which will offset the additional costs of £153,000 expected to be incurred due to the need for social distancing on site and increased costs of materials.
The report maintains the project will “future proof” the asset for the next 15 to 20 years and deliver an important rental return for the common good fund.
“It is anticipated that it will also act as an anchor point for the Old Town, improving footfall in both the market and in the Old Town,” it stated.
“It is expected the project will make the market more attractive to families and young people and enhance the market as a tourist destination.”
An updated business case from Graham and Sibbald acknowledged the pandemic has caused economic uncertainty and challenges for the business community.
But it also believes there will be new retail trends including an increase in local shopping.
“The Victorian Market is not immune from the impact of Covid-19 but we believe the uniqueness, strength of Inverness and the Highlands as a tourist destination and the market returning to balance in the mid to long-term, protect it from the economic uncertainty resulting from Covid-19,” it stated.
“On that basis, we believe that it will be successful despite the impact of the Covid-19 outbreak on the basis that it is developed sympathetically, priced correctly and managed well to create a new facility.”
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