Northampton’s £12.4 million Market Square will not have a full cost breakdown released until early 2026, council says

The redevelopment, completed by the previous Conservative administration in November 2024, included new paving, water features, seating, landscaping, a dedicated events space, 18 fixed market stalls with electricity and water, 19 pop-up tent stalls, and space for up to 10 food concession vehicles. Contractors Stepnell carried out the works on behalf of WNC, funded through the Government’s Towns Fund and additional UKSPF grants.

A council spokesperson said: “We’re currently agreeing the final account for the Market Square project. This will be completed after the defects liability period ends in early 2026. Taking into account the time needed for negotiations, final account paperwork, and the usual 3 – 4 week industry shutdown over Christmas, we expect to be in a position to confirm the final account figure in early 2026.”

The works were officially finished on 28 November 2024, following nearly two years of construction that began in February 2023. The defects liability period – a standard stage in construction contracts to address any minor issues – runs for 12 months.

Previously, the council had told the Chronicle & Echo that a detailed cost breakdown would be available after a minimum of 12 months, which would have been November 2025. The new timeline means the final account will now be released slightly later than that original minimum estimate.

Since May 2025, Reform UK has been running the council, with Councillor James Petter – deputy leader of WNC and cabinet member for local economy, culture and leisure – taking a hands-on approach to the market.

On the cost of the Market Square project, Cllr Petter recently said: “The whole floor here is built to last a hundred years, to take 30-tonne lorries. Underneath the fountain, there’s a tank the size of a swimming pool. That’s where some of the cost went… The trees – they look great now, but underneath there’s a full root system, irrigation, drainage, so they can grow and not fall apart.

"I wouldn’t say it’s good money because I didn’t spend it. It was done well before we came in. But as far as what we’re going to do in the future, that’s all I care about now.”

Conservative councillor Daniel Lister, who oversaw the project under the previous administration, said the budget had not been exceeded, rising from an initial £8.4 million to £12.4 million during construction due to inflation and other factors.

A WNC spokesman previously said: “Due to unprecedented inflationary pressures and additional costs, the project will come in close to the £12.4m budget agreed by WNC in 2022, which is made up of £8.4m from Government, £3.5m developer contributions, and £0.5m from WNC.”

Labour shadow cabinet member Koulla Jolley previously criticised the council for delays in publishing detailed cost information. She said: “We will be requesting a deep dive into the finances of the project and will eagerly await the cost breakdown once it is finalised.”