Staffordshire Moorlands District Council has bought Cheadle Market for £260,000. The district council put in a successful bid for the market hall when it went under the hammer this week.

It had a guide price of £250,000, and there were three other bidders for the property during the online auction. Council leader Mike Gledhill welcomed the purchase, saying the market was 'central' to the authority's plans to boost Cheadle's economy.

He said: "Staffordshire Moorlands District Council is delighted to confirm that it has made a successful bid to buy Cheadle Market, which went to auction today.

"The purchase of the market has been a core ambition of ours and I am delighted that we have been successful in the auction. It is central to our plans to raise the profile of Cheadle and grow the local economy in partnership with stakeholders, businesses, traders and residents. A thriving market at the heart of the town will be a great asset and a key contribution to a vibrant future for Cheadle."

The property had a guide price of £250k and there were three other bidders (Google).

The market, which was previously owned by Northern Markets, includes the 3,220sqft market hall, which has enough space for 30 stalls, as well as the outdoor square. It was advertised as a 'unique opportunity to purchase a historical market place in Cheadle'.

The council says that the money for the purchase will come from funds already allocated towards regeneration. Prior to the auction, the council's opposition Conservative group had publicly called for the council to 'make every effort' to buy the market.

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