Business Plan

From WST

(A copy of the plan can be downloaded at this link)

Summary

The Corn Market is a building with heritage significance, an architecturally-important building that sits at the foot of Walcot Street in the heart of the city of Bath. In spite of its prime position it has remained empty and unused for the past six years. Walcot Street Trust has identified an exciting opportunity to use the building in a way that will benefit both the local and wider community and crucially, is economically viable on an ongoing basis.

We propose to create the Corn Market Arts Centre – a flexible space that provides a range of arts and community facilities in the heart of the city. Walcot Street Trust has identified a market for several types of space including small performance, gallery and studio spaces all of which are in short supply across the city. By designing the Corn Market facilities to be flexible, we can maximise booked time and create a resource that is much needed and financially sustainable.

The Corn Market building has a number of structural issues that need to be rectified. It is surrounded by scaffolding and security hoardings that make it an eyesore and adversely affect the Walcot Street precinct. Restoration of the building will bring cultural and economic regeneration to a neglected part of the city and boost Walcot Street’s reputation as the ‘artisan quarter’ of Bath. The Trust has calculated that this work will require around £2.25 million of capital expenditure and we are committed to finding the necessary funds to restore the building.

The next steps for this project are:

• To gain written confirmation from Bath & North East Somerset Council that, subject to capital funding, the Trust can lease the Corn Market on a long term peppercorn rent

• To secure the £50,000 funding required to develop a professional restoration project plan

• To develop the restoration plan in consultation with local planning authorities and English Heritage

• To secure the remaining £2.2 million funding required to carry out the conservation and repair work

• To complete the work according to the project plan

The Corn Market project has the following benefits:

• First class arts space at affordable prices for the local and wider community

• Conservation and adaptive re-use of an historically important building for current and future generations

• An attractive gateway to Walcot Street, bringing a wider range of people into the street to the benefit of local businesses and Bath’s economy

• Stronger community networks generated through provision of facilities where residents, visitors and businesses can meet and interact

• Revitalization of the immediate area, for the benefit of all users of Walcot Street