Lincoln outsources struggling Cornhill Market to private partner

Summarised from 2 outlets · Updated 14 Oct, 13:03 · Archive

Lincoln City Council will hand control of the loss-making Cornhill Market to a private company while retaining ownership.

Lincoln City Council will outsource the running of Cornhill Market to a private company in an attempt to turn around the loss-making venue. The council will retain control but the appointed partner will cover all operating costs, keep all income, and be responsible for implementing a new business plan. The decision was taken at the authority's Executive meeting on Tuesday following advice from retail experts that a new direction was needed.

The £8m Cornhill Market has struggled since its refurbishment two-and-a-half years ago. A report to the council meeting noted that although the market brought in more business over the past year, the current situation was "neither sustainable nor desirable". Stall occupancy remains low at 69%, though this represents an improvement from a low of 38% in 2025.

Councillor Joshua Wells, the portfolio holder overseeing the market, said he was confident in its future if the council adapted. "The environment in which markets exist now is completely different to five or even ten years ago," he said. The council plans to make small changes immediately whilst negotiating contracts to appoint a suitable partner, with implementation expected to take between six and twelve months.

How it is being reported

• New private partner to run loss-making marketThe council controlled Cornhill Market has been losing money since an £8m revamp in 2024.BBC Lincolnshire · 14 Oct, 12:51
• Running of Cornhill Market to be outsourced in bid to ‘make it flourish’The market has struggled, but retail experts say it can be successfulLincolnshire Live · 14 Oct, 09:15

In this story: Lincoln City Council · Cornhill Market · Joshua Wells · Lincoln

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