?The event will follow hot on the heels of the popular annual Lancashire Markets, which have taken place on Friargate in recent years.
This major drive to bring in more visitors to the city will take place on Fishergate which will be closed to traffic for the event.
Mark Whittle of Preston BID said during discussions with Makers Market about a partnership, Fishergate became the preferred location.
?He said: “A lot of money has been spent on improvements to Fishergate and it is a great way to showcase the city centre. ?There is a real excitement about this event.
“We hope that a lot of our regular traders from the Lancashire Market will be part of this as well.
“This area has some great producers. There will also be plenty of opportunity for Preston Markets to be represented as well.”
Mr Whittle said he hoped the closure of Fishergate would have minimal impact on traffic flow.
He added: “There may be a minor inconvenience for a few hours but we think this will be a real winner for Preston.”
Here's everything we know so far about the road closures:
How much of Fishergate will be closed and for how long?
Fishergate will be closed to traffic from its top end at Cheapside to Lune Street between 10am and 4pm during the events.
When will the first market be held?
The first one will be held on May 11.
How often will the markets be held?
The markets are planned to be held on the second Saturday of every month.
What will happen to public transport along Fishergate?
Discussions are currently underway with bus companies to re-route existing bus stops.
Buses and taxis will be re-routed. The bus stop normally outside Boots will be moved temporarily to Lune Street.
Discussions have also taken place with emergency services and council officials and final arrangements will be publicised in due course.