Market in 'difficult position' according to review

Lincoln's Cornhill Market is in a "difficult position", according to a review commissioned by the city's council, but experts said it was not in crisis.

Market specialists Next Phase carried out the review of the venue, which reopened after an £8m refurbishment in 2024 but which has run at a loss ever since.

The company's report said the market could succeed with a new commercial model, but added there was a need to review everything from the layout to management and marketing.

Joshua Wells, City of Lincoln Council's portfolio holder for economic growth, said experts were confident there was a way forward.

The report said the market had improved noticeably over the last six months, had built a "loyal, repeat customer base", and recent lettings were on the rise.

However, the market's core problem was that it lacked a "settled identity", the report concluded.

The review said there was low occupancy from traders, footfall continued to be low, and the back of the hall was underused.

The market is now 69% occupied, up from a low of 38% last year.

According to the Local Democracy Reporting Service, the report said the council had treated the market as "a building to be attended rather than a venue to be run".

"Their assessment found that while there was a strong vision for Cornhill Market, the way it has been run hasn't always matched that vision," Wells said.

"The challenge is to encourage more people through the doors and create an offer that keeps them coming back."

The full report and action plan which aims to revitalise the venue will be handed to the City of Lincoln Council next month.

The market's performance will be discussed at a scrutiny committee next week and an Executive meeting in October will make decisions on how it should be transformed.

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