It is the latest phase of a significant investment programme in markets which has already seen a new Great Homer Street – ‘Greatie’ – in Everton, and a £2.5 million refurbishment of St Johns Market in the city centre.
Lord Mayor, Councillor Malcolm Kennedy, said: “I am delighted to have opened this brand new market, which was much needed.
“It is great news for the traders who have been waiting a long time for the creation of an attractive new development with modern facilities.”
The new market complements other nearby developments including the £12 million Geopost DPD parcel facility which has created 250 jobs, and the building of new industrial units by St Modwen.
Deputy Mayor, Councillor Ann O’Byrne, said: “This move has been vital to giving the market a future – their previous home was over 50 years old and the new conditions are a world apart.
“The workers are unsung heroes whose work is done while many of us are sleeping and we were determined to make sure they found a new site so it didn’t just wither on the vine.”
The cost of borrowing for the build of the new market is being paid for through rental income from the relocated market traders.
The fruit, vegetable and flower market’s former site is to be redeveloped as a new home for a Merseyside Police patrol hub, while also providing space for the Force’s vehicle repair facility, currently based at Smithdown Lane. Some land is also being used to rebuild the neighbouring St Cuthbert’s Catholic Primary School, while the remaining nine acres fronting Prescot Road is set to become new housing.