Council update on Inverness Victorian Market business case

Highland Council representatives met with Inverness Victorian Market and Fish Hall businesses yesterday evening (Wednesday 13 November 2019) to update them on the progress and current position in relation to submitting a business case to the Council’s City of Inverness Area Committee to transform the Market Hall and Fish Hall.

Members of the City of Inverness Area Committee had previously requested that a business case be presented to the committee regarding the Victorian Market on 21 November 2019. The business case has now been completed and will be published on the Council’s website in the CIAC agenda for 21 November at the following link: https://www.highland.gov.uk/meetings/committee/30/inverness_city_committee

Businesses were informed that officers - in accordance with the 2017 Victorian Market Action Plan have progressed:

1. A concept design and layout of the Market / Fish Hall, which was presented to the businesses on 15th July 2019.
2. A tenancy mix proposal which is appropriate to the Victorian Market and its city centre location, in collaboration with the Victorian Market Stakeholder Group and the Council’s external advisor Graham & Sibbald.
3. The appropriate rent rate for new tenants in a developed Market / Fish Hall.
4. Arrangements for businesses that will be required to vacate the site during project works

After two years of ongoing engagement which has included one-to-one consultations with each business affected, the businesses were informed at the meeting that if the project business case is approved by Councillors at the City of Inverness Area Committee, market tenants would be given notice in early 2020 and granted compensation based on 6 months’ rent or the financial equivalent.

Businesses were also informed that advice and assistance in finding alternative temporary accommodation could be provided with the help of Highland council Estates Team; Business Gateway; Inverness BID; and the Federation of Small Businesses. They were also informed that a schedule of available retail units within the city centre could be provided to assist with the quick identification of what units are available and the costs.

If approval is received from the City of Inverness Area Committee, formal marketing of Victorian Market units would begin in early 2020.  The businesses were informed that they will be welcome to bid to secure a redeveloped unit in the Market and that all tenancy offers would be assessed in line with the tenancy framework; and that any business intending to re-apply would need alternative premises for a minimum of 6 months possibly up to 12 months.

The Council would keep businesses informed of the project progress and work with them in terms of their new unit requirements.

On the basis vacant possession is secured by April 2020 it is anticipated the redevelopment works would take 10 months to complete. It is anticipated tenants would be able to take entry into redeveloped units early 2021.

The project to transform the Victorian Market Hall / Fish Hall does not include the Market Arcade and Queensgate.

All affected businesses were informed on the points in the business case that would affect their businesses and they were provided with an information handout detailing proposed compensation that would be available to them. The businesses were also informed who to contact for further information and advice.