Businesses in an iconic building in Petersfield want to reassure the community they are still open as the freehold goes up for sale.

Folly Market on College Street is up for grabs, with the auction guide price set at £950,000, and although businesses have stated they are still open for business, it does not rule out of the possibility of redevelopment.

On Knight Frank’s website, it states, “the property may benefit from redevelopment, subject to all necessary consents and the current tenancy”. In 2015, there were talks about demolishing the building to make way for retail outlets and flats, but the plans never came to fruition.

Posting on a local community group on Facebook, one business said: “We are all still here and open for business as usual. Yes the building is up for sale, however this does not mean it will be redeveloped.

“The new owner would need planning permission and would definitely have a protest on their hands (exactly like The Blacksmiths Daughter & Fez Bazaar.)

“Please come in and support your local shops. The Folly Market is such a wonderful hidden treasure with amazing small businesses and we couldn’t be open without you all!”

Speaking to the Petersfield Post, Jake Benstead from The Folly Bar, said the bar still has a lease until March 2027 and no businesses inside the market are affected.

Coming up at the Folly is an Easter Market on on Friday, April 18 from 3pm to 6pm, and the businesses are encouraging people to come along and see what they have to offer.