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Insider Media (24 June) is reporting that the opening of a regenerated food market in Brighton has taken a step forward after securing £1m of funding.

Brighton Open Market, which will promote healthy food from local producers when it opens on 19 July, received a loan of £1m from Triodos Bank.

The open market, located on London Road, consists of 45 permanent stalls, which will be filled with a wide range of produce including organic and local food producers, as well as 12 art and craft workshops.

It is part of a £20m regeneration scheme which rebuilt the original open market to include 87 affordable homes, new public spaces and the creation of a car and van club.

Victoria Williams, a director of the community interest company (CIC) which runs the Brighton Open Market, said: “We were very keen to secure financial support from an institution that would share our vision for the Open Market and Triodos Bank was able to give us that.

“They could see that the market was not just about creating a beautiful, thriving, purpose-built space to supply fresh, healthy and local produce to the local community but it was also about supporting the local economy by bringing together Brighton’s independent traders and sustainable food businesses to revitalise the London Road area of the city.”

The new market is owned by the Brighton Open Market CIC. The CIC board has representatives from the market traders, the council, The Ethical Property Company and Hyde Housing, which developed the site. The market is managed on behalf of the CIC by The Ethical Property Company.