Multi-million pound plans progressing to turn vacant Northampton shopping centre into 'prime entertainment destination'

Plans are progressing to transform a vacant shopping centre in Northampton into a ‘prime destination for food, drink and entertainment’.

Leisure developer STACK is set to bring its first facility in the midlands to Northampton town centre as they work to acquire the Market Walk site, according to the council.

At West Northamptonshire Council’s (WNC) cabinet meeting on Tuesday, July 11, councillors will receive an update on plans to transform the vacant Market Walk, formerly Peacock Place.

During the meeting, WNC’s cabinet will receive further information on the approval of the Towns Fund business case in order to secure the development scheme.

The council will provide up to £4.2 million investment through the Towns Fund, coupled with private investment of £8 million from STACK, which will allow the space to be transformed into a new leisure, entertainment, and social community hub.

The Towns Fund is part of the Government’s plan for Levelling Up the UK economy and West Northamptonshire Council (WNC) has secured £24.9 million to invest into transforming Northampton’s Town Centre. As part of the Grant Funding Agreement, the Towns Fund money must be spent by spring 2025, otherwise funds could be withdrawn, say WNC.

The repurposing of the shopping centre will enhance the town’s vibrancy and vitality, supporting both the daytime and night-time economy and complementing the adjacent ongoing transformation of the historic Market Square and public realm of Abington Street and Fish Street, according to the council.

Once complete, the space will host a series of independent street food traders, all with their own unique offer and feel, a variety of bars and a dedicated space for interactive games, all focussed around communal seating and a main stage for live music performances and entertainment – offering something for all the family.

Cllr Dan Lister, Cabinet Member for Economic Development, Town Centre Regeneration and Growth at West Northamptonshire Council, said: “Market Walk will undergo significant redevelopment and once open, will boast the first offering of its kind in the Midlands.

“STACK offer a unique social and leisure space under one roof, which provides something for all of the family. On completion of the acquisition, the developers will take the first steps to seek the relevant planning and licensing permissions to bring this project forward for delivery.

“By seeking opportunities to work with private investors to bring forward developments across West Northamptonshire, we can enhance our towns and accelerate the delivery of our ambitious regeneration programme.”

WNC says this type of leisure concept is already successful in other cities. STACK sites in Newcastle and Sunderland have both reportedly been successful in attracting visitors and generating footfall to underutilised sites. STACK Newcastle welcomed over 3 million visitors in the first three years and STACK Seaburn attracts over 70,000 visitors per month.

Neill Winch, CEO of STACK, said: "We are thrilled to announce our plans to bring STACK to Northampton and support the council’s vision to reinvigorate Market Walk. With its prime location in the heart of the town centre, STACK presents an excellent opportunity to create a dynamic and convenient destination for visitors and shoppers alike.

“The ongoing investment in Northampton's Market Square to revitalise the town centre aligns perfectly with our vision. By introducing STACK during this pivotal moment, we aim to contribute to the town's revival and enhance its appeal as a thriving hub of entertainment and leisure.

“The proven success of our mixed-use development model in other cities has been nothing short of remarkable. STACK has captivated visitors and generated substantial footfall. We believe this winning formula will resonate with the people of Northampton and offer them an unparalleled experience.”

To keep up to date with regeneration in Northampton and across West Northamptonshire visit www.wearenorthampton.com

A WNC spokesman added: “Without intervention, it is likely that the Market Walk Shopping Centre will remain in a redundant and vacant state. This is likely to cause a decline in footfall to this part of the town centre, having an adverse effect on the immediate surrounding area and in particular the proposals for Market Square.”

According to cabinet papers, heads of terms have been agreed with the developer and the owner of Market Walk to buy the building for £2million.

WNC said in cabinet papers: “The owners are not currently aware that the council are involved in the project and if they were to find out it is highly likely they will seek to increase the price.

“If the price were to increase beyond £2million the council could not justify this and it would mean that the council could not grant the developer funding for the project.”

Before closure, Market Walk was formerly occupied by retailers including Dorothy Perkins, Zara Beauty, Lucci Leather, Swishing, Cynthia Spencer Hospice, Rendezvous Coffee Shop, Fitness Inc, Bohemian Finds, Aflora and Luxe Gifts, Evans, Bias and others.