East Lindsey District Council’s executive board has recommended the market is refurbished rather than sold.
Louth market will avoid closure and be refurbished, following a decision from East Lindsey District Council’s executive board.
The market, which has operated in Louth for over 100 years, was under threat of closure with Masons Chartered Surveyors and Willsons Chartered Surveyors served formal notice to end their occupancy by the end of the year.
But, in a consultation, 84 per cent of residents voted in favour of refurbishment and the recommendation will now need to gain the approval of the full council at a meeting on October 11.
Auctioneer David Williams said he was delighted. He added the operators were fully committed to continuing operating the market and were in discussions to ensure it had a sustainable future.
He invited as many people as possible to attend the first autumn sale of suckled calves and store cattle yesterday (October 5).
“We hope to demonstrate the market is a rural hub and many of our supporters will be there with displays and items for sale,” he said.
“We have been delighted by the huge response from our market users, stakeholders, the farming community and local residents to the plight of our market. It just goes to show that in this strong farming county we offer an essential service to the rural community.”
The auctioneers had argued the market provided a vital service and was in a strong financial position.
Cattle trading has been a major part of Louth since the 1600s and the council has a legal obligation to provide a livestock market. However, one option considered was to remove this obligation at a cost of £200,000.
The council estimated the cost to refurbish would be £700,000 but the auctioneers believed it could be lower as replacing the roof sheets on the main building was the only major work needing doing.