£4m to be spent on improving market place

3:25pm Friday 21st November 2008

Comments (0)   Have your say »

THE regeneration scheme for Durham Market Place that was embroiled in controversy over the possible relocation of its statues has secured a multi-million funding package.

Regional development agency One NorthEast has approved a £4m deal over four years for improvements.

Durham City Vision, the organisation behind the revamp of the square and surrounding alleys – known locally as vennels – had to publicly declare earlier this year that the statues of the Marquis of Londonderry and Neptune would stay where they are after a suggestion that they might be moved.

Durham City Vision team says it wants the area to be a “much-improved’’ gateway to the city’s cathedral and castle World Heritage Site.

It plans improvements to the streetscape, including better lighting and signage, shop fronts and vennels.

One NorthEast’s acting regeneration director, Ed Rowley, said: “The city is already famous for its history, culture and World Heritage Site status, but we also want to improve its status as a leading tourist, business and retail location.’’ The funding will bring in a further £1m of public sector and £250,000 of private sector match funding.

It is estimated that 30 businesses will benefit from shop front improvements and it is hoped the number of visitors will rise from 600,000 to one million by 2012. It hopes to reduce shop vacancy rates in prime areas from eight per cent to a national average of three to four per cent.

It also hopes to increase annual visitor spend figures from the 2006/07 level of £16.8m to £30m by 2012 and make the Market Place a “more manageable and useable space’’.