Cardigan market to transfer to regeneration body

Cardigan market is housed in the basement of the Guildhall

Ownership of one of mid Wales' biggest indoor markets is to be transferred to a company as part of a council's plan to save £9.6m by next April.

Ceredigion council will save £16,000 a year by handing over management of Cardigan's indoor market to Menter Aberteifi.

The company promoting community regeneration will take control of the 50-stall market in June.

The three-year lease will allow it to develop a business plan.

The market is housed in the multi-arched basement of Cardigan Guildhall which was built in 1860.

Menter Aberteifi was formed in 1996 to promote community regeneration projects in and around Cardigan.

'Take control'

The not-for-profit company took over the management of the Grade II-listed Guildhall's three function rooms, gallery and courtyard in 2009.

In collaboration with Cardigan Building Preservation Trust the company managed the £1.3m Guildhall restoration project which was completed in 2012.

The market has been an integral part of the Guildhall since it was built in 1860

Menter Aberteifi's project officer, Ann Stokoe, said: "We wanted to take control of the indoor market because we think we can do a better job of developing it in the future."

The company will now carry out a feasibility study on the future restoration of the building and a business plan.

Cardigan councillor Catrin Miles said: "It makes sense that somebody who wants a market stall can talk to somebody on site.

"Up until now prospective stallholders have had to travel 40 miles to Aberystwyth for an interview with Ceredigion council.

"Menter Aberteifi can now try and access grants to renovate the market hall and improve occupancy levels."