Council bosses have rejected claims that Newcastle’s Grainger Market is being privatised, after they were forced to bring in an outside management team amid a civic centre staffing crisis.
Real estate consultants Knight Frank are set to take over the day-to-day running of the historic market from Newcastle City Council. However, despite accusations that the move could set a “dangerous precedent” by handing over one of Tyneside’s most prized assets, local authority chiefs assured councillors on Tuesday that the council will retain control of the site.
The Grainger Market’s financial struggles have been no secret over recent years, most recently reporting a £377,000 shortfall against its budget for 2022/23, though the recent completion of its over-running and over-budget roof renovation has brightened the mood. And council bosses now say that an exodus of staff from its property team means they can no longer run the market as it should be.
