Report on the Corporate and Resources Committee Meeting, 21 November 2024

© Photograph Hugh Griffiths

Kingston’s Ancient Market Place, a landmark steeped in history since the 12th century, is poised for a transformative renewal following the Royal Borough of Kingston’s Corporate and Resources Committee meeting on 21 November 2024. The committee approved the appointment of a new operator, although did not name them, to oversee the Ancient Market Square, the Grade II* listed Market House, and the bustling street market, ensuring a comprehensive approach to revitalising this cherished town centre hub.

The decision marks the culmination of an 18-month process, underpinned by extensive public consultation, detailed strategic planning, and a rigorous operator selection process. The chosen operator, whose identity remains confidential pending the conclusion of negotiations, will take the reins from April 2025. The Council’s ambitions for the market include enhancing its appeal as a cultural, commercial, and community anchor for Kingston, all while maintaining its historic significance.

A new chapter for a historic market

The Ancient Market Place, home to one of London’s oldest street markets, has long been a focal point for Kingston’s community and visitors. The site’s enduring popularity owes much to its unique mix of heritage charm and modern attractions, such as food stalls, fountains, and seasonal events like the Christmas Market. However, recent assessments highlighted untapped potential for the market to play an even more prominent role in the town’s cultural and economic life.

Central to the Council’s strategy is the integration of the market’s three main elements—the Market Square, the Market House, and the street market—under a single operator. This holistic approach is designed to ensure consistency, innovation, and long-term investment. The market’s new lease will include commitments to improve infrastructure, expand trading hours, diversify offerings, and host a year-round programme of cultural events.

Selecting the right partner

The search for the operator began in May 2024, with the Council commissioning The Market Curators, a specialist consultancy, to oversee the process. Following an initial round of expressions of interest from seven experienced firms, five formal bids were received. Bidders were evaluated against criteria encompassing experience (30%), vision (30%), pricing (25%), and social value (15%).

The winning proposal, which scored highest in all categories, outlined a vision for a revitalised market that blends heritage with contemporary innovation. Key features include an expanded mix of market stalls, increased evening trading hours, and creative uses for the Market House, which has been underutilised for nearly a decade. The operator also committed to delivering measurable social value, including job creation, business support, and initiatives to address climate challenges.

Community and cultural benefits

The revitalisation aims to enhance Kingston’s status as a destination for residents and visitors alike. A curated programme of events will celebrate the town’s diversity and history, with the Market Place serving as a platform for cultural and creative expression. The improved Market House will provide additional indoor space for community and cultural activities, while the street market’s expanded offer will include pop-up stalls featuring vintage and artisanal goods.

Crucially, the new arrangement is expected to generate financial and environmental benefits. The operator will take on the market’s maintenance and operational costs, reducing the Council’s annual expenditure of £300,000. In addition to receiving a base rent, the Council will share in the market’s revenue, ensuring a steady income stream to support wider regeneration initiatives.

Kingston Council’s Deputy Leader and Portfolio Holder for Economic Development and Leisure Alison Holt said:

“The council is committed to ensuring Kingston’s Ancient Market Place continues to be successful and sustainable for years to come and for everyone to enjoy.

“It is much loved and hugely popular, and conversations with a range of people and communities who use the Market Place have highlighted there is appetite for making even more of this treasured space.

“Bringing together the street market, Market House and surrounding public realm under one strategy to be delivered by one operator will bring huge benefits for residents, local businesses and visitors.”

Sustainability and inclusivity at the forefront

Sustainability is a cornerstone of the Council’s vision. The operator will be required to adhere to stringent environmental standards, including waste minimisation, energy efficiency, and the promotion of sustainable transport. Plans to support local businesses, apprenticeships, and community engagement further align with Kingston’s broader objectives of fostering a fairer and greener borough.

An Equalities Impact Assessment conducted for the project underscores its potential to deliver inclusive benefits. From supporting low-income families with affordable fresh produce to providing spaces for social interaction, the market is expected to enhance the quality of life for all residents.

Looking ahead

The next steps involve finalising the lease and operational terms by January 2025, allowing the new operator four months to prepare for the transition. Key performance indicators (KPIs) will be established to monitor the operator’s adherence to the Council’s objectives, with provisions for addressing any performance shortfalls.

The revitalisation of Kingston’s Ancient Market Place, the Council says, is not merely a commercial endeavour; it is a commitment to preserving the town’s heritage while embracing its future. As the market gears up for this exciting transformation, the community can look forward to a space that continues to reflect Kingston’s unique character while offering new opportunities for connection, commerce, and celebration.

We hope so but we have serious concerns particularly the Market House and handing over a key historic asset to a third party. This is a community asset and as such the community should be at the centre of its continued use.