NEW moves to provide Malton Livestock Market with a new site were revealed this week by Ryedale District Council Leader, Coun Keith Knaggs.

He said that in the past three months he had several meetings with farmers and operators of the market, including James Stephenson, Cundalls and those who run Thirsk Market.

Coun Knaggs said the Fitzwilliam Estate, which owns the cattle market in Malton, had “an absolute right” to terminate the existing lease in October 2013.

He added: “With the estate’s well-known aspirations for the existing market site, it is unrealistic to assume it won’t happen.

“A number of sites which could be available and are likely to be planning-acceptable, have been identified.”

Investment in the market on its current site was impossible and without a way forward, said Coun Knaggs, customers would move elsewhere. “This leakage of business could harm businesses and shops in Malton.”

The figure for financing a new market is put at £2.5 million.

Coun Knaggs, pictured, said: “If the district council were to put in £1 million – which would need a policy change and a fresh capital programme – then allowing for some probable private contributions, we are looking at a funding gap of £1 million – challenging, but feasible.”

He envisages “a people’s company” or a farmers’ co-operative being set up in which everyone could buy shares.

“That means there would be a prospectus with a business plan, demonstrating a profitable business which can pay dividends once well-established. Initial calculations suggest that a go-ahead operator can make this pay.”

Coun Knaggs said his aspiration was “a personal initiative”, but added: “The importance of all this is not just the market itself, it is all the associated business which goes with it – the agricultural supply chain, the professional services that the agricultural business uses, the farmers’ market, and the spending power that comes into Malton.”

He suggested that Askham Bryan College might establish a training room within a new market complex.

There could also be the opportunity to establish a link with the Food and Environmental Research Agency at Sand Hutton, as well as provision of space for small businesses units serving the agriculture and forestry industries in Ryedale. “It is not difficult to see some exciting ideas.”

He said: “Given a positive attitude by those involved, this will need a lot of hard work, but it can be done. We need to get on with it, and the first step is to establish how much support there is for the ideas which are being put forward.”

Fitzwilliam Estate will re-submit its application for the livestock market site, for “a high quality food-only supermarket” together with some larger format comparison retail stores.

Roddy Bushell, manager of Fitzwilliam Estate in Malton, said: “That proposal meets exactly the specification recommended by Ryedale Council’s own consultants and is in the right location for excellent links to help the existing town centre.

“There is no need to see the town’s main car park in Wentworth Street.”