Developers have promised to transform an eyesore building which overlooks Ely’s historic market square into an area residents “can be proud of” as part of a sweeping redevelopment.

Ely Standard: Ely's market square as it looked before undergoing redevelopment in the 1960s.Ely's market square as it looked before undergoing redevelopment in the 1960s. (Image: Archant)

Property management company, Rannerlow will unveil plans later this month to redevelop the former Corn Exchange building, which dominates the centre of the city and has often been decried by residents as a carbuncle.

Plans for the redevelopment of the building, which dates to the 1960s, have been more than 10 years in the making and will be revealed for the first time on March 26, in Ely.

James Bateson, of Rannerlow, said: “The present building is socially and economically detrimental to our beautiful city and our aim is to deliver a development in the city centre that all of us can be proud of.

“We have worked closely and enthusiastically with those who have shared our vision and passion for Ely and this has included East Cambridgeshire District Council, the City of Ely Council and English Heritage, as well as many individuals.”

Mr Bateson said the exhibition would give residents the chance to have their say on the plans, which have been put together over a number of years with the help of Ely-based firm Gary Johns Architects, which helped transform the Poets House Hotel.

If the feedback from the public exhibition is positive, Mr Bateson said a planning application would be submitted as soon as possible.

He said: “At the meeting we hope to have the opportunity, along with the project architects, to discuss in more detail these important proposed changes which we believe to be both exciting and beneficial for the whole community of Ely and our district.”

It is understood that the market square itself could also be redeveloped by the district council as part of the work.

The public exhibition is taking place from 10.30am-3.30pm on March 26 and at the same time on March 28 at the Old Goal, in Market Street.

WHAT DO YOU THINK? Does Market Place need redevelopment? Send your thoughts to Alexander House, Fore Hill, Ely, CB7 4AF or e-mail daniel.mansfield@archant.co.uk