The Cattle Market site in Louth will be placed on the open market it has been confirmed, as East Lindsey District Council continues to ‘review its assets to ensure they are delivering value for money to council taxpayers’.
Over the coming months, East Lindsey District Council will invite bids from developers and interested parties for the Livestock Market site in London Road.
For a number of years developers have been approaching the council expressing their interest in the site for a range of uses.
The site is currently used once a week for a Livestock market.
As a result of the asset review and the interest shown from developers in the past, the Council announced in May that it would be seeking independent expert advice on whether it should consider marketing the site.
This advice concluded that considerable interest is still being shown in the site and the District Council has now decided to test that level of interest by placing the site on the market.
Although the site is to be marketed, no decision has been made to sell or lease the site, which would be a matter for all councillors to debate if expressions of interest are received.
Councils are being encouraged by the government to ‘sweat’ the assets they are responsible for to ensure they are delivering best value for money to Council Taxpayers.
The district council has already been clear that if the site were to be redeveloped, a replacement Livestock Market would be made available in Louth before the existing site were to close.
Any replacement Market site would have ‘wider uses than the current site and create the opportunity for new businesses’.
Coun John Upsall, Portfolio Holder for Finance and Property, said: “Louth’s Livestock market has been reviewed as part of our ongoing review of assets and we will be inviting bids for the site shortly.
“Once that process is completed, we will ask council how it wishes to proceed.”