A VIBRANT market which has taken place in Wembley for more than 40 years will have to relocate.

Landowners Quintain have served notice for Wembley Market to cease in October as part of their major redevelopment of the area.

The market takes over East Lake Car Park in the shadow of the Wembley Stadium on most Sundays in the year and has been running since 1971. Wendy Fair Markets, which runs the event, has been told it must cease trading on October 6.

Tessa Darby, director of Wendy Fair, said: “It is a shame because it is such a great asset to the community. Just because Quintain has served notice it doesn’t mean the market will stop and we have been looking at alternative sites in the area. It will be a massive loss to Wembley.”

She said the market will probably continue until October on the current site, but will move if another option comes up sooner.

The market sells a wide range of clothing, electrical goods, food and CDs and DVDs and is well-known in the area.

Tokyngton ward councillor Ketan Sheth said: “I am astonished – I think it will be a great, great loss for Wembley. It is not just famous for the stadium and the arena but it is equally famous for the market.

“It is not just popular with residents as people come from miles away to visit, I have always found it to be heaving when I have been there.

“If a new area cannot be found for it I think it is a very sad situation not just for the market but for Wembley as a whole. It will be a shame to lose that from the heart of Wembley.”

Quintain acquired 85 acres of land and car parks surrounding the stadium which it is redeveloping. Five hundred homes, a 660-bedroom student accommodation and a 431-bedroom Hilton Hotel have been completed and work is underway on a London Designer Outlet. Outline planning consent for the second phase of development, which will include an additional 1,300 homes and a shopping street, was secured in 2011.

Brent Council also built its new Civic Centre on the scheme.

A spokesman for Quintain said: “With the impending opening of the new London Designer Outlet at our redevelopment site where the market has been trading, Quintain decided to formally serve notice to the market.

“To complement the outlet, Quintain plan to introduce a new and contemporary programme of artisan markets and events across the site, replacing the existing Sunday market with a more diverse and varied offering.”

Quintain confirmed it will not be relocating the market on its land.

Two men were convicted on Friday last week at Willesden Magistrates’ Court for selling counterfeit tracksuits at the market and it is regularly investigated by Brent Council.