The historic Well Street Market will reopen on Saturday following an £80,000 crowdfunding campaign.

Hackney Gazette: Cllr Ian Rathbone, secretary of Westra, Hackney speaker Cllr Rosemary Sales, The Gun landlord Nick Stephens and market manager Kay Richardson at a Hope Not Hate festival in AugustCllr Ian Rathbone, secretary of Westra, Hackney speaker Cllr Rosemary Sales, The Gun landlord Nick Stephens and market manager Kay Richardson at a Hope Not Hate festival in August (Image: Archant)

Shoppers will be able to get their hands on fresh produce, fashion and street food when the stalls return for the first time in eight years.

DJ Norman Jay will headline a day of live music, while Father Christmas will also be dropping by to meet the younger visitors.

The market, launched in 1862, was once a major trade hub for Hackney and Jack Cohen famously launched supermarket Tesco on the cobbles. But it fell into decline in the 1980s and, like many others, eventually closed.

In 2011, Cllr Ian Rathbone set up the Well Street Traders and Residents Association (Westra) to revive the market and bring jobs back to one of the most deprived areas in the UK.

Westra chair Jo Price was delighted to end the five-year wait with the launch of the monthly market.

She said: “My family have had a shop in Well Street for more than 50 years and I am really looking forward to seeing the stalls return. It’s so important to have somewhere for people to meet other people from all parts of the community.”

Among the donors for the crowdfunder were Hackney Council, Sadiq Khan and Hackney Walk – the fashion hub in Morning Lane.

Westra project manager Kay Richardson revealed the market will have London’s first ever “student makers market” and teenage market, where locals will get free stalls and training.

French artist Camille Walala, who used to live in Well Street, has brought her “tribal pop” art to the corner facade at the junction with Valentine Road and Terrace Road.

“Well Street most definitely is a special place for me,” she said. “I love the sense of community here between shop owners and residents.”

The market runs from 9am to 5pm, with the official opening at midday.

Hackney’s business boss Cllr Guy Nicholson, said: “Hackney’s street markets are growing, led by thriving businesses which are bringing visitors and trade to our borough. Our challenge is to ensure our markets are not competing with each other but each adding to the other’s success.

“The Well Street traders and residents are to be congratulated for their commitment and drive to relaunch one of the borough’s oldest markets.”

Find out more about the relaunch here.