The aim is to transform it into a a “vibrant, future-proof destination”, announced landowner Milton Keynes Development Partnership (MKDP) today.
They have appointed specilaists to seek a development partner for the opportunity and a full tender process is expected to take place this summer.
The company, called ‘Activate, Workman’, advises on the regeneration of town centre locations nationally, along with the “repurposing of specific assets” and enlivenment of a range of destinations.
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MKDP, which is the business arm of MK Council, describes the open market as a centrally located, prime commercial space.”
Currently covering 3,446m2 of Grade A retail space, it contains a strong core of 100 existing outdoor commercial units.
A spokesman said: “As the landowner, MKDP is seeking a partner to help transform Milton Keynes Open Market into a destination retail, leisure, and food and beverage scheme which will be future-proofed against market changes by providing a dynamic, modern, customer experience to local residents, and visitors, whilst retaining the market’s core values and appeal.
“MKDP is keen to work with partners with broad experience in the retail destination sector, and remain open to new ideas, and innovative concepts for the space.”
Tracey Aldworth, MKDP’s managing director , told the Citizen today: “MKDP is seeking comments, and enquiries, from partners keen to enter into a long-term agreement and is open to partnering with a singular institution, or a consortium. We are also seeking the views of potential partners to determine the best-suited contractual vehicle for the development of this site.”
Esther Worboys, Placemaking Manager for Activate, said: “Milton Keynes Market is an essential element of Milton Keynes’ civic fabric, and retail offer. The market is centrally located on Midsummer Boulevard and immediately adjacent to the centre:mk shopping centre which attracts 23.4mn visitors per year. We are keen to find a partner who will work with MKDP on both operating the market as it is in the short-term, but also developing it in the medium to long-term into a destination for local residents and visitors.”