The Hopmarket Charity has completed the sale of The Hopmarket building, on The Foregate in Worcester, to Hopmarket Holdings which is a development company of EDG Property. This follows the decision in March this year to find a new owner for the building so that essential repairs and investment can be made to the historic building.
EDG Property is an award-winning property development company led by Neil Edginton. Neil and his team have years of experience across the West Midlands in place-making and in creating special buildings which are sustainable for living, working and enjoying.
The Hopmarket is a prominent Grade II listed landmark made up of residential flats and commercial units. Independent building and property maintenance surveys had confirmed that, in its current form, it could not be sustained in the long term, with significant investment being needed into the fabric of the building.
The Hopmarket Charity therefore decided that selling the building and bringing in new investment would offer the best opportunity to protect its heritage and secure a sustainable future.
As plans progress, EDG Property will engage directly with commercial leaseholders who run shops and businesses at The Hopmarket, and with the owners of a small number of residential units that are not leased by Platform Housing. Any future redevelopment proposals for the building will be subject to the usual planning processes and further engagement to ensure they reflect the aspirations of the city and its communities.
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. The Hopmarket is a popular high street destination with some thriving independent businesses. We are grateful to Platform Housing and their tenants for agreeing to vacate their properties and showing their understanding that redevelopment is necessary.”
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. We are passionate about investing into towns and cities to create high-quality safe and sustainable places for people to enjoy; whether that be for business, leisure or living. 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:
"From the outset, our priority has been the people who call The Hopmarket home. We know that moving home is a significant change, particularly when it isn't something you've chosen to do, and we've been committed to making that experience as positive and supported as possible.
"We've worked closely with each household to understand what matters to them and help them find a new home that meets their needs. It's really encouraging to see customers now settling into their new homes, and I'm proud of the care and commitment our teams have shown throughout this process.
"While good progress has been made, our work isn't finished. 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.”
