Nottingham City Council’s redevelopment of the historic Sneinton Market has brought with it a cash injection for the regional economy, with £1.5m worth of sub-contracts awarded to local firms.

Nottingham-based Acorn Aluminium, Johns of Nottingham and DTE Demolition Ltd – awarded contracts valued at £130k, £130k and £80k respectively – are amongst those that have joined Wates Construction, to facilitate the building refurbishment.

Wates began construction work at Sneinton Market in October 2014 and full completion is expected by the end of this year. The redevelopment of the building will transform the units on-site into fully functional workshops and studios for the use of creative enterprises.

The much-anticipated project will enable Nottingham City Council (NCC) to revitalise an important part of the city’s heritage, whilst providing a central hub for aspiring businesses and individuals looking to tap into the city’s emerging creative sector.

Wates’ appointment of local supply chain partners at Sneinton Market forms part of its commitment to create positive local impact, a pledge shared with the East Midlands Property Alliance (empa), through which the project was procured.

The empa framework, managed by Scape, was established in 2008 by local authorities to improve the cost-efficiency of property services for local communities.

The Sneinton Market project has also created a host of opportunities for employment and training, with local people undertaking work experience at the site. These include three jobseekers from the NCC Employment Hub and a student from the University of Lincoln.

Alan Coole, Head of empa said: “Bringing real savings to help boost commerce and regenerate local communities is at the heart of what we do at empa.

“Collaboration and intelligent design on this project has enabled more to be delivered within the project budget – a key driver behind why more public sector bodies are choosing empa to deliver their construction projects.”

Councillor Nick McDonald, Portfolio Holder for Jobs, Growth and Transport at Nottingham City Council, commented: “The redevelopment of the Sneinton Market site is a really important scheme. It will create jobs, support businesses, help students and graduates, and regenerate an historically important area of the city. As a key location in our flagship Creative Quarter and part of the gateway into the city, the development is very much part of a far-sighted commitment to the city’s future prosperity. We’re really pleased to see development well underway and we look forward to our citizens getting to know the revamped area.”

Forming a central part of the council’s growth plan for the city, the work to renovate Sneinton Market has been part-funded by a £2.4m European Regional Development Fund (ERDF) grant, with £1.45m additional funding from NCC.