Architects have been appointed to create a new market and event space under the Victorian market canopy in Preston.
Plans for the regeneration of the area include re-locating the current market outside, then tearing down the market hall, car park and Lancastria House to make way for a possible new cinema.
And IBI Taylor Young Ltd have now been chosen to lead the development of the project.
Early stages of the process will include consultation with current market traders.
Coun Peter Rankin, leader of Preston Council, said: “The market is an essential part of Preston and as a council we are totally committed to investing in a new market. That’s why we have appointed IBI Taylor Young Ltd to work with us to come forward with the best possible scheme for Preston that the budget will allow.
“We have the fabulous Victorian market canopy in Preston that, with some investment and imagination, could become a permanent home for a vibrant new centre point for the markets quarter in Preston city centre.”
David Gardner at IBI Taylor Young Ltd said Preston and its markets had “huge potential” and said: “We are delighted to be working with Preston and are looking forward to meeting market traders to develop a new markets quarter in Preston. We’ve got a lot of experience with markets redevelopment - most notably in Ashton and Chesterfield, both of which have won national awards, so we understand how important markets are to towns and cities and the sense of local identity they can offer.”