Rotherham’s Markets: Losing market ‘not an option’ says council as costs rise to £40m

The South Yorkshire Mayoral Combined Authority (SYMCA) confirmed the additional investment last week, bringing its total contribution to £9.9 million, nearly a quarter of the overall £40.9 million project cost.

Originally approved in March 2023 with a budget of £31.7 million, the scheme is a flagship part of Rotherham’s town centre regeneration. However, extensive survey work uncovered serious structural issues, including reinforced autoclaved aerated concrete (RAAC), asbestos, and the need for major utility upgrades, all of which drove up costs.

Rotherham Council maintains that the investment remains essential to secure the future of the market and deliver a “safe, modern and attractive” destination that brings people back into the town centre. The project includes a new purpose-built library, upgraded indoor and outdoor market areas, and improved public spaces.

Council officers say the risk of doing nothing would be far greater. Without intervention, the existing building would eventually close, leaving Rotherham without an indoor market.

“Without this scheme, the existing building would inevitably reach the end of its life – leaving the town without an indoor market,” said Andrew Bramidge, Rotherham Council’s strategic director for regeneration and environment.

“That isn’t an option we’re prepared to accept.”

The revised £40.9 million cost will be met by a combination of funding: £9.9 million from SYMCA, including the newly approved £6.5 million; £13.9 million from the government’s Towns Fund; £8.9 million from the Future High Streets Fund; and £8.2 million from Rotherham Council’s capital programme.

SYMCA documents confirmed that the extra funding was necessary due to the scale of the unforeseen safety and infrastructure work. Without it, the viability of the project and the long-term sustainability of Rotherham town centre could be at risk.

Construction is already under way and is expected to take three years. The council has built contingency funding into the contract and committed to covering any future overruns.

Mr Bramidge said the funding ensures the town centre is not only preserved but transformed into a “modern, vibrant space that serves our communities”.

“This redevelopment is about more than just the market. The new, purpose-built library will sit at the heart of the site and is key to creating a space that’s more than just a place to shop – it will be a place to learn, connect, and take part in community life. Combining these two vital assets – retail and cultural services – is what will bring energy and footfall back into the town centre.

“The original cost estimate of £31.7 million was based on the best available information at the time. It included contingency, but like any project of this scale and complexity, there were unknowns until physical work began.

“As with many regeneration projects involving older buildings, some major challenges only became evident once detailed surveys and early demolition works were carried out. These included the presence of RAAC, asbestos, and the need for significant utility service upgrades – all of which had to be addressed safely and thoroughly.

“Ultimately, this is about securing the future of Rotherham Market, delivering a new library, and creating a modern, vibrant space that serves our communities and brings new life into the heart of the town centre, and we are committed to delivering that.”