Plans for a community space at 14 Market Place in Newark have been abandoned, with the site now designated for commercial rental. The Newark and Sherwood District Council initially approved a budget of £373,000 in December 2024 for the redevelopment of the property, which was intended to feature a community hub on the ground floor and a residential apartment above.
In May 2025, both Lincoln College and CVS, the organizations considered to manage the space, opted out of the project. They cited the building’s insufficient size to accommodate their plans as the primary reason for their withdrawal. Following this decision, the council made efforts to identify alternative uses for the property by engaging local businesses and community organizations. Despite these efforts and discussions at the Newark Towns Fund Board, no parties expressed interest in operating the space as a community hub.
With no viable tenant for a community-focused initiative, the council has shifted its approach. The current recommendation is to create a functional space on both the ground floor and basement, which will be leased on commercial terms. This new plan is expected to generate approximately £8,000 in annual rental income, surpassing the originally anticipated £6,000.
The decision was made during a cabinet meeting on December 9, 2024, where council members agreed that leasing the property commercially aligns with the council’s broader town centre strategy. The aim is to maximize the value of a key asset within the council’s portfolio.
Paul Peacock, the council leader, remarked on the challenges surrounding the issue, acknowledging a potential political failure in securing a community space in the area. Peacock stated, “This has been a difficult issue… it’s clear that there’s a need for a community space in that area of the market place.” He emphasized the council’s intention to revisit the idea of a community hub in the future but expressed satisfaction with the current decision to transition 14 Market Place into a commercial unit.
The upper floors of the building will remain unaffected by this change, allowing the council to maintain its residential asset while adapting to the market’s needs. As Newark continues to evolve, this decision reflects a pragmatic approach to community and commercial interests within the town centre.
