A HISTORIC city centre building has been sold to a developer with plans to secure its future through major investment.
The Hopmarket in Worcester, a Grade II-listed property on The Foregate, has been acquired by Hopmarket Holdings, which is a development company of EDG Property, from The Hopmarket Charity.
The sale follows a decision earlier this year by its previous owners, Platform Housing, who sought new ownership to deliver essential repairs and long-term investment.
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Jenny Barnes, chair of The Hopmarket Charity, said: “After a thorough legal process, the charity trustees have been pleased to complete the sale of The Hopmarket building to Hopmarket Holdings, working with EDG Property.
“We know that this beautiful building needs care and investment and we look forward to seeing Neil Edginton’s plans to bring it back into full use.”
EDG Property is led by Neil Edginton and has experience in place-making and creating sustainable developments across the West Midlands.
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The Hopmarket comprises business units and residential flats.
Independent surveys found the building unsustainable in its current form, prompting the charity to pursue a sale as a means of protecting its heritage and future viability.
EDG Property plans to consult with commercial leaseholders and owners of residential units not managed by Platform Housing.
Any redevelopment proposals will be subject to the usual planning processes and further engagement with the community.
Neil Edginton, managing director of EDG Property, said: “The Hopmarket is a really special building with a fascinating history for Worcester, but one which needs major investment to make it fit for the next chapter of its life.
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“We look forward to working in collaboration with Worcester, our existing and new tenants, to make sure The Hopmarket is something that the city can be proud of for many more years to come.”
Marion Duffy, chief operations officer at Platform Housing Group, said residents’ needs had been a priority throughout the process.
Ms Duffy said: “We’ve worked closely with each household to understand what matters to them and help them find a new home that meets their needs.
“We will continue to support every customer who is still waiting, taking the time to find the right home and helping them through each stage of their move.”
