LEISURE DEVELOPER STACK is set to transform the vacant Market Walk shopping centre in Northampton town centre.
The developer completed its acquisition of the site at the start of August and is now working on a regeneration and development project to convert the premises, formerly known as Peacock Place but which has stood empty for years, into a food hall and leisure space.
STACK is working with West Northamptonshire Council on its plans, for which the council is to provide up to £4.2 million in funding through the Towns Fund. STACK is to invest £8 million in the project that it says will create a new leisure, entertainment, and social community hub.
The Towns Fund is part of the government’s plan for Levelling Up the UK economy and West Northamptonshire Council has secured £24.9 million to invest into transforming Northampton’s Town Centre. As part of the Grant Funding Agreement, the Towns Fund money must be spent by spring 2025, otherwise funds could be withdrawn.
The council says that repurposing the shopping centre will enhance Northampton’s daytime and night-time economy and complement the transformation of the historic Market Square, Abington Street and Fish Street.
“The scheme offers something unique for our town centre and differs greatly from those previously explored for the site,” said cabinet member for economic development, town centre regeneration and growth Cllr Daniel Lister pictured left.
“Market Walk is situated on Market Square and, coupled together, these two regeneration projects are set to rocket the leisure economy in Northampton by providing a diverse mix of entertainment, food and drink, and retail opportunities alongside fresh local produce provided by our market traders.”
The next step is for STACK to seek the relevant planning and licensing permissions to bring the project forward for delivery, he added.
Once complete, Market Walk will host independent street food traders, a variety of bars and a dedicated space for interactive games, all focused around communal seating and a main stage for live music performances and entertainment.
STACK’s leisure concept is already successful in other cities. Its sites in Newcastle and Sunderland have both attracted visitors and footfall to underutilised sites. STACK Newcastle welcomed over three million visitors in the first three years and STACK Seaburn attracts over 70,000 visitors per month.
STACK’s chief executive Neill Winch said: ” Breathing new life into a long-vacant space is a venture we are fully committed to. This ambitious project holds the potential to make a substantial positive impact on the town, serving as a dynamic focal point for both the local community and visitors.
We are confident that our innovative and inclusive leisure concept, which includes opportunities for local jobs and a platform for local street food traders, will contribute significantly to the local economy.”