Talks between the owner and the Council have been ongoing since the early part of the year and have advanced to the point that Councillors will be asked to approve the purchase of the market at the next Full Council meeting on 15 November.
The Council's future plans for the market will include improving its appearance, increasing the use for community events and activities and working with market traders to widen and increase the choice of goods and services.
Leader of the Council, Councillor John Clarke said;
“We have had some very positive discussions with the land owner and we are near to an agreement to purchase the market and bring it into council ownership. The owners share our vision to maximise the impact of the market and are as committed as we are to improving it for the benefit of Arnold.
We will have more details in the coming months but this is great news, another significant step forward and will be welcomed by residents, businesses and existing market traders. We look forward to making this a real success for Arnold and for the borough.”