BRECON Market Hall is set to be sold later this week.

The Grade II listed building which dates back to the 1840s holds a twice weekly charter market on Tuesdays and Fridays.

The decision to sell the building is being made using delegated powers by the portfolio holder for highways, recycling and assets, Cllr Phyl Davies (Conservative, Blaen Hafren), and will be confirmed on Thursday, September 26,

According to a report by PCC’s commercial property manager, David Micah, the building costs £91,859 to run each year and only makes £76,301 from the market.

Mr Micah said: “The building is identified as having a significant maintenance backlog, and management and repair costs along with overheads substantially outstripping the revenue income stream.

“The last condition assessment done  in 2017 identified a current maintenance liability of £206,325 comprising a considerable list of works necessary to repair and improve the condition of the building.”

Earlier this year, PCC marketed the hall looking for expressions of interest from people looking to buy and refurbish the hall.

PCC marketed the property on its website for four weeks and said it had a “good level of interest.”

Two firm expressions of interest were received, reviewed, and have now been followed through.

The asset was valued at £352,800 and the report suggests that the building has been sold for a higher figure, although the details of the deal are being kept confidential.

Mr Micah adds: “The sale of the property ensures that the council receives a strong capital receipt for this property, which can then be used to help develop a vibrant economy by delivering capital improvement schemes, and creating employment opportunities.”

“The capital receipt may support the council’s development programme for new facilities for its learners and in doing so, will also support the priority to enhance services and facilities for our residents and communities.

“Additionally, the investment will enhance the retail offering in the town, creating a destination for start up business and pop up shops.”

PCC says that there will be “stakeholder” meetings to update the existing traders and tenants.