The same number of pitches will be available for the busier markets and once finished the scheme will include four parking bays for very short stays and a public space running through the centre of lower High Street.

Stephen Sweeney, Deputy Leader of Newcastle-under-Lyme Borough Council and Cabinet member for Finance, Town Centres and Growth, said: “We all know the important role the market plays in Newcastle’s daily life.

“This significant investment will upgrade stalls, support traders and make the whole area more appealing. As well as maintaining the market, this is part of our wider commitment to the regeneration of the town centre economy.”

Money for the work comes from the Borough Council’s successful bid to the Government’s Future High Street Fund.

The town offers general markets on Mondays, Wednesdays, Fridays and Saturdays, antiques markets on Tuesdays and Thursdays and specialist events on 29 Sundays throughout the year.

Initial work will start soon focusing on creating the new green area through lower High Street and making the space for the temporary stalls for the events market.

Some stalls will be moved during the process, but there will be room for every trader to carry on.

Plans also include the possibility of a digital screen installed in the lower High Street by a public space where people can congregate to watch big events live.

The existing taxi rank area will be unchanged, while the area around a digital screen would be landscaped after installation and, finally, four very short stay ‘nipper’ car parking spaces will be created.

Stephen Sweeney added: “The area will look and feel very different and encourage people to spend a little longer day-to-day while they’re shopping, or having a drink and watching the world go by.

“We’ll also be carrying out a feasibility study into erecting a large digital screen where we can come together to watch big national events, which would be brilliant, and we’ll know more about that later in the year.”