Hull City Council’s Cabinet have approved the provision of a loan to the Fruit Market partnership in order to build a brand new multi-storey car park.

A joint public/private partnership between Wykeland and Hull City Council has been established to take forward the development of the Fruit Market.

The Fruit Market Limited Liability Partnership (FMLLP) is seeking a £3.2m loan to develop a 350 space car park on the site of the former Bonus Electrical.

Councillor Daren Hale, portfolio holder economic investment and regeneration, said: “The Fruit Market has completely transformed over the past few years, becoming a thriving, cultural quarter playing host to a number of creative industries and local, independent businesses.

“With the rise in businesses, restaurants and houses, the demand on parking in this area is increasing, and the construction of a multi-storey car park will provide a secure place where visitors to the area can leave their car and explore the surrounding area.

“We are pleased that this long-anticipated investment in Hull is starting. There will be huge benefits resulting from this scheme for both residents and businesses alike.”