Coalville councillors have been told that North West Leicestershire District Council was 'brave' to open the new Newmarket in Marlborough Square - but added it had 'taken a risk' in doing so.

Newmarket was launched last September to replace the former Coalville Market.

But the district council's Cabinet meeting on Tuesday heard that it will not reach its full potential until the planned redevelopment of the Marlborough Square area. which is due to begin this year.

Council leader Cllr Richard Blunt, the Cabinet chair, said: "Newmarket has always been tricky.

"I'll take it on the nose from anybody that we did something quite brave.

"It's going to be hard - and delivering the new outdoor market will be equally hard with material costs shooting up as well.

"But we're nothing if not brave, and to be brave means to take risks.

"And we're taking risks."

Cllr Andrew Woodman had earlier told the committee: "Newmarket is improving.

An artist's impression of Newmarket at the drawing board stage

"But we're not going to get the full potential until Marlborough Square's completed.

"The visits are showing an upwards trend.

"Occupancy is showing an upwards trend.

"Particularly at weekends and there's plenty of events going on there to promote it.

"It's still looking good for the future when we get all the infrastructure in place."

Cllr Woodman said of Newmarket when it opened: "This is a welcoming building, with the old markets they could be slightly daunting.

"With the food outlets, this is a multi-faceted offering.

"There are places to sit down and offers a great experience for shoppers.

"You look any town centre and the outdoor-style markets are very much in the past."