A significant redevelopment of Rotherham's Markets and Library complex will proceed as scheduled, following the approval of an additional £6.5m by regional leaders to cover a substantial budget shortfall.
The South Yorkshire Mayoral Combined Authority (SYMCA) confirmed the extra investment last week, raising its total contribution to £9.9m, nearly a quarter of the overall £40.9m project cost.
Initially approved in March 2023 with a budget of £31.7m, the scheme is a key component of Rotherham's town centre regeneration. However, comprehensive survey work revealed serious structural problems, including reinforced autoclaved aerated concrete (RAAC), asbestos, and the need for major utility upgrades, all of which increased costs.
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Rotherham Council insists that the investment is still crucial to secure the market's future and create a "safe, modern and attractive" destination that draws people back into the town centre. The project includes a new purpose-built library, upgraded indoor and outdoor market areas, and enhanced public spaces.
Council officers argue that the risk of inaction would be far greater. Without intervention, the existing building would eventually shut down, leaving Rotherham without an indoor market.
"Without this scheme, the existing building would inevitably reach the end of its life – leaving the town without an indoor market," stated Andrew Bramidge, Rotherham Council's strategic director for regeneration and environment.
"That isn't an option we're prepared to accept."
The revised £40.9m cost will be covered by a mix of funding sources: £9.9m from SYMCA, which includes the newly approved £6.5m; £13.9m from the Government's Towns Fund; £8.9m from the Future High Streets Fund; and £8.2m from Rotherham Council's capital programme.
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Documents from SYMCA confirmed that additional funding was essential due to unexpected safety and infrastructure work. Without this financial support, the project's feasibility and the future of Rotherham town centre could be jeopardised. Construction has commenced and is anticipated to last three years. The council has incorporated contingency funds into the contract and has pledged to manage any subsequent cost overruns.
Mr Bramidge stated that the investment ensures the town centre is not just preserved but also revitalised into a "modern, vibrant space that serves our communities".
He said: "This redevelopment is about more than just the market. The new, purpose-built library will sit at the heart of the site and is key to creating a space that's more than just a place to shop – it will be a place to learn, connect, and take part in community life. Combining these two vital assets – retail and cultural services – is what will bring energy and footfall back into the town centre.
"The original cost estimate of £31.7m was based on the best available information at the time. It included contingency, but like any project of this scale and complexity, there were unknowns until physical work began.
"As with many regeneration projects involving older buildings, some major challenges only became evident once detailed surveys and early demolition works were carried out. These included the presence of RAAC, asbestos, and the need for significant utility service upgrades – all of which had to be addressed safely and thoroughly.
"Ultimately, this is about securing the future of Rotherham Market, delivering a new library, and creating a modern, vibrant space that serves our communities and brings new life into the heart of the town centre, and we are committed to delivering that."