PLANS to build a new £1.5 million livestock market on the outskirts of Malton to replace the existing site have been unveiled by two farmers.

John Hicks and Peter Stark outlined their proposals at a meeting arranged by Malton Town Council and said their aim is to relocate the market to a site on Pickering Road, where it could be run by a co-operative if sufficient funds are available.

The current market’s lease from the Fitzwilliam Estate is due to expire in October and Mr Hicks and Mr Stark said the immediate priority was to extend the licence to avoid farmers switching to alternative markets at Thirsk and Murton, near York.

They said the group needed about another £1 million to build a new complex which would operate a market twice a week.

The council’s chief executive, Janet Waggott, said the authority needed to “have a good look at the proposals” but did not have £1 million available for the project, although the group said they expected their funds to grow if the council gave its support.