UPDATE: Newark and Sherwood District Council has officially scrapped plans for a new community space at 14 Market Place, opting instead to lease the property as a commercial unit. This decision, made on December 9, 2025, follows a failed bid to find organizations willing to manage a community hub.
In a move that could reshape the town center’s landscape, the council had originally budgeted £373,000 for the redevelopment of the site, which includes a ground floor commercial space and a residential apartment above. However, both Lincoln College and CVS withdrew their interest in May 2025, citing the building’s inadequate size for their intended plans.
Despite extensive efforts by the council to engage with local businesses and community groups, no viable tenant stepped forward for the community space. The council’s attempts included discussions at the Newark Towns Fund Board, but ultimately, a lack of interest forced a change in strategy.
The new plan will see the ground floor and basement transformed into a commercial unit, projected to generate approximately £8,000 in annual rental income, surpassing the previously expected £6,000. Importantly, these changes will not affect the upper residential floors of the building.
Council Leader Paul Peacock acknowledged the challenges surrounding this decision, stating, “This has been a difficult issue…there’s probably been a political failure around this.” He emphasized the ongoing need for a community space in the area, promising that the council would revisit this issue in the future.
Peacock added, “For now, I’m happy to move that 14 Market Place be a commercial unit,” highlighting the necessity of maximizing the value of the property within the council’s portfolio while supporting the town center strategy.
This decision marks a significant shift in the council’s approach, as officials now look to enhance the commercial viability of the town center amid ongoing discussions about community needs. Residents and local business owners are urged to stay informed as further developments unfold regarding this pivotal property.
