Hackney Council Scraps Indoor Market Plans Amid Property Delays, Focuses on Supporting Existing Traders
Hackney Council has abandoned plans for a new indoor market, a decision that will prevent further cost increases for local traders. The move was confirmed during a Skills, Place and Economy Scrutiny Commission meeting on Wednesday, October 14, 2026. The development of the indoor market was rated as 'red' due to delays in third-party property arrangements not progressing within contractual timelines.
Councillor Rachel Kiesu-Gifu, Cabinet Member for Inclusive Economies, Skills, High Streets and Markets, stated her commitment to avoiding further financial burdens on traders. My commitment is to not burden the traders further,
she said. I don't feel it's sustainable to keep pushing costs on to traders.
The financial sustainability of Hackney's existing markets is currently rated as 'amber'. While the service broke even in 2024-25 with a small surplus, it experienced cost pressures due to two consecutive years without a Consumer Price Index (CPI) uplift, resulting in an estimated £355,000 not recovered. The primary cost pressures are external to the service's direct control, relating to the procurement of infrastructure and suppliers for various commission jobs, such as electrical bollard repairs and waste services.
Despite the cancellation of the indoor market project, Hackney Council is implementing a range of alternative strategies to support traders and enhance the vibrancy of its existing markets. These include a focus on Community Wealth Building, aiming to help traders organize, scale their businesses, employ local residents, and reduce costs through shared storage and logistics, as well as cooperative purchasing.
Technology investments are also planned, utilising Wi-Fi, CCTV, and upgraded commercial storage to drive footfall and reinvest in market infrastructure. Significant regeneration projects are underway, with substantial investment earmarked for Hoxton Street Market and other areas. Furthermore, the council is supporting young traders through the Hackney Next Gen brand and has streamlined its licensing process, with activations now taking just 48 hours.
To further boost footfall, the council is exploring entertainment trials, including busking zones
and designated spaces for performance art. A commitment to reducing single-use plastics will be made a licensing condition for markets. The council is also exploring applications for Invest to Save funding to support commercial storage solutions.
This decision was discussed in the context of wider waste management challenges, as highlighted in supplementary agenda documents for the meeting, including the Public reports pack.