A new car park is to be put in place a short walk from Preston city centre.

Penny Street, off North Road, has been chosen to offset the forthcoming loss of the Market Hall car park once it is demolished.

The Preston Markets scheme includes demolition of the current 500 space car park and a new one will be built as part of the £50million cinema and restaurants complex.

Land off Penny Street has been earmarked to be the new surface car park for pay and display parking.

A report by highways officers at the city council states: “There is a proposal to create a new surface car park at Penny Street, located off North Road, in 2018.

“The car park has yet to receive planning consent and indeed has yet to be physically constructed.

“This new car park is intended to meet some of the shortfall of car parking in the vicinity of the Market Hall car park and the new car park will offer the best tariffs of all the pay to stay car parks operated by the council.

“As this will be a new car park, a number of discounted day rate options are also proposed at this stage.”

Read more: App allowing you to pay for parking by card in city centre expands to more car parks

Cabinet member for planning and regulation services councillor Peter Moss said: “The plot of land at Penny Street is owned by the council and is a potential future development site. We’re trying to make the best possible use of the available space and applying for a three year consent for car parking, subject to planning permission.

“With the continuing cuts to the council’s budget from Central Government this could provide much needed additional income to the council.”

Here’s how much parking in Penny Street is due to cost:

1 hour, £1
2 hours, £1.50
3 hours, £2.50
4 hours, £3
12 hours, £3.70
24 hours, £5

What do you think about the location of the proposed car park? Would you use it? Let us know in the comments below