After a process that whittled prospective partners down from 32, an interim management agreement has been signed between LCC and French firm Geraud, with final terms due to be formally ratified early next year.
The council said it was looking for a long-term partnership with a firm that was prepared to invest 'a significant amount of capital' in the upgrading of the local markets.
The joint venture will explore the promotion of alternative uses for the fruit and vegetable market, in order to support existing tenants. Groupe Geraud, which manages more than 1,000 European markets, is to relocate its UK headquarters from Stockport to the Edge Lane site which will both create employment opportunities and increase occupancy levels.
'Markets used to be at the heart of every community and this is what we want to recreate in Liverpool,' said Geraud's md Frederic Bonnet, while LCC's Chris Curry pledged that the partnership would 'ensure our markets are kept going and are fit for the 21st century'.
Geoff Wells, president of Liverpool's Wholesale Fresh Produce Association, told the Journal: 'We are more than pleased with this outcome as we feel Geraud will offer the best service and we expect to see more effective and efficient management of the market from now on. Hopefully we will see increased investment in the development of the fresh produce market, either on its existing site or possibly elsewhere.' There will now be a period of consultation between the WFPA, the city council and the joint venture, to discuss the way in which the facilities at the market can best be developed. Moving the market to another site is just one option being considered.
The majority of tenants would prefer to stay in Edge Lane, said Wells. 'I think most companies would be happy to stay here. There is ample room to develop the site without disrupting the day-to-day running of the market.'
