Matt’s Attic/ New Mills Market Hall
15 September 2025
Sector: Retail
Location: High Peak
New Mills Market Hall (which expects to employ 10-20 people once it is up and running) is the brainchild of four lifelong friends who have come together to restore the iconic but vacant Market Hall building into a unique, welcoming food and drink space that celebrates the spirit, culture and history of the town.
The ownership of the building, management of the property and the trading business are all tied together but will operate under different roles and responsibilities. The team therefore needed professional guidance to ensure everything is structured properly from the start.
Challenges faced
The team pooled their savings and got huge support from family members and the like-minded seller of the building. The greatest barrier to making their dream a reality is, however, funding. An ambitious crowdfunding campaign has been set up to raise £25,000 to complete key works and support the opening of a space that will fuse the best of High Peak and the urban flavour of city street food under the same roof.
Solution – Support Given
Support from East Midlands Chamber together with a start-up grant from Derbyshire County Council has given the fundraising campaign the boost it needs.
One-to-one business advice from Chamber Business Adviser Steve Phillips has supported the business in applying for a Growth Voucher for expert financial advice. The chosen accountant had previous experience of advising on similar property-backed ventures, was familiar with the legal, tax, and operational considerations of setting up layered ownership structures and had practical experience of VAT planning in complex property and hospitality settings. Their understanding of how to implement integrated accounting and EPOS systems using Xero and the Access Group suite – both of which will be relied upon to run the food hall efficiently – also proved valuable.
Impact – The Difference it’s Made
As a result of the financial advice received, the business has a much better understanding of tax implications, how best to separate risk between the trading business and the building itself, and putting in place agreements to protect the four owners. Most importantly, it means the business is set up to run smoothly and sustainably from day one, without needing to restructure later at much greater cost and disruption.
“This space is important; not just for us, but for generations of New Mills locals. It’s hard to measure precisely, as we implemented the consultancy at such an early stage, but in theory, accessing this support could have saved us many thousands in future fees and taxes.
Our Chamber Business Adviser Steve Phillips was incredibly helpful in ensuring we accessed the right financial consultancy at the right time and has given us confidence we are more streamlined, financially resilient, and better prepared for growth.”
- Beth Eadie, Co-Owner
This initiative is funded by the UK Government through the UK Shared Prosperity Fund (UKSPF) and delivered by East Midlands Chamber.
