THE rapidly-increasing value of livestock market sites is making some local authorities and site owners look far more closely at the potential for their redevelopment and relocation, writes Roy Lewis.

Trade at some livestock markets has dropped and traffic congestion has become a major problem.

In Hereford, the multi-million pound market area has been under the spotlight. Three years ago a team of consultants, engaged by the council, favoured relocating it to the outskirts of the city. But while no action was taken, consideration has since been given to using part of the area as a regular Farmers' Market.

The future of the smaller Ledbury Market is in doubt because of redevelopment plans and a question mark also hangs over Monmouth Market where there is a possibility of a new river bridge being built which would cut through the market's sheep pens.

The county authority is also considering a plan to site a new market in the Raglan area to replace not only Monmouth but Abergavenny market.

Another market in the news is Gloucester. The local authority there is considering the redevelopment of their sixty-acre site, valued at £40 million, to make way for a hotel, retail units and accommodation.

Gavin Loynes, of Gloucester Market Auctioneers, said his company was negotiating with the council for an alternative site on the outskirts of the city.

However, another site would be available before they vacated the present one, he said.

"There has been talk of redevelopment for some ten years," said Mr Loynes. "A new market could be a good thing. It would cost a couple of million pounds to set up and it could be more compact and easily accessible."

The future of Ledbury Market is in the balance because of possible redevelopment. However, markets are continuing on a regular basis while the future of the site is being decided.

Ledbury Hospital developers, Shaw Homes, who want to build a nursing home and doctor's surgery on the site, failed in their attempt to obtain enough shares to buy it.

But they say the offer is still on the table.

Shaw Homes were hoping to secure the 90 per cent shares needed to purchase the site but had not done so by last month's deadline which has now been extended by some months.