The future of the Victoria Centre market has been plunged into doubt after Nottingham City Council published the results of a consultation into the venue. A consultation was carried out between April and June this year, putting forward a proposal to end the lease after more than 50 years of investment.
Nottingham City Council reported that the ongoing subsidy costs over the remaining 50 years of the lease agreement are estimated to amount to £39m. The council has cited "costs outside of the council's control" and changes in shopping habits exacerbated by the coronavirus pandemic as reasons behind their decision.
However, traders have vowed to fight it with "everything within their powers" as they expressed their disappointment at the outcome of the consultation. In the outcome released on Tuesday, August 9, officials are now set to recommend ending its lease and operation of the Victoria Indoor Market.
