New owners of the historic Barnet Market have laid out plans for its future.

UBS, which owns The Spires shopping centre in High Barnet, has been looking to develop the St Albans Road stall market, since it took over before Christmas.

The group this week announced it is seeking planning permission for various improvements to the site and has the backing of the Friends of Barnet Market.

Works include resurfacing the site in tarmac and installing proper drainage, replacing the hoardings with post and rail fencing and planting trees around the perimeter.

Pay and display ticketing machines will also be installed, but the group is waiting to finalise parking plans at the site.

The proposals have also been welcomed by Chipping Barnet MP Theresa Villiers.

UBS says it does not expect the plans to arrive at the council’s planning department before the new year.