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A new market place could be developed in Caerphilly town centre where Specsavers once stood – after the council revealed it no longer wants to build a boutique hotel there.

In March this year, the Specsavers building was demolished to make way for a boutique hotel as part of the council’s Caerphilly 2035 project – a 15 year plan to regenerate and transform the town centre.

But, now Caerphilly County Borough Council has unveiled proposals for a market to be built on Park Lane, just off Cardiff Road, which aims to “put Caerphilly on the map”.

This follows separate proposals to demolish the current Caerphilly Indoor Market on Pentrebane Street and replace it with housing.

Cllr Jamie Pritchard said: “The new market proposal will support local traders in growing and expanding their businesses whilst also providing employment opportunities.

“Located on the pedestrian thoroughfare between the transport interchange and the castle, the market will be in a key position to attract visitors to the town, helping put Caerphilly on the map as an exciting and vibrant destination in south Wales.

“These are indeed exciting plans, but I would urge local people to continue to support the existing traders within the market hall at Pentrebane Street, as these proposals are likely to take some time to progress.”

No formal planning application have been submitted for the new market or the scheme on Pentrebane Street.

The council has said the new market is subject to funding from the Welsh Government, but if all goes ahead, it is expected to open in summer 2023.

Council leader Sean Morgan said: “This proposed market development will help breathe new life into the town and forms part of the Caerphilly 2035 masterplan which will help transform this key strategic town centre over the coming years.

“The proposed closure of the privately owned market hall at Pentrebane Street will result in the creation of this new, fit for purpose market development at a more prominent site. This will also facilitate the delivery of a new mixed-use development on Pentrebane Street which will provide much-needed new homes and new commercial and retail space on the ground floor.”

The new market will have 28 permanent stalls – seven of which will be bars or restaurants – in addition to outdoor space for 15 pop-up stalls

Linda Reed, who runs Ed’s Attic Records at the current indoor market, said she would move to the new development if she could afford the rent.

According to Caerphilly Observer, the market traders currently pay £375 a month in rent, including bills.

When asked about rent, Cllr Pritchard said: “No decisions have been made, but the rental costs would reflect the market. For a prime town centre location with higher footfall, the rental costs would be higher than an area where there’s extremely low footfall.”

Linda has been running the record store with her husband for the past eight years. She said: “[The council] should have had this in place before announcing they were going to demolish our market.

“We have lost our café, our barbers and now our butchers.”

Following the news that the market was set to be demolished, Paul Livermore, who owns Upmarket Family Butchers, said he is moving the business to a shop on White Street.

Traders said they had been told that shipping containers could be used as part of the market development – these have been used at Goodsheds in Barry.

Claire McGurk, who runs a haberdashery store at the current indoor market, said: “I’m looking forward to it. It will be in a much better location as it’s over-looking the castle, right by the banks, and it will attract tourists more than here.”

The current indoor market is privately-owned and the council intends to purchase the building before its demolished and re-developed.

The council has said plans for a hotel are still on the cards which will be built “within the vicinity”.