Planning permission had been refused to United Auctions/ Elphinstone Land last year by the Council's Control Panel on the grounds that it contravened the key principles of the Stirling Clackmannanshire Structure Plan Policies. But design changes to the original plans have been made and Stirling Council has been happy to give the scheme the go-ahead.
The new market will be located on 21 hectares of agricultural land, north of the A84 trunk road and bounded by the Rivers Teith and Forth. The development will include a new 13,500sq m livestock market building with a retail letting unit of 620sq m.
David Leggat, the executive chairman of United Auctions, said he was pleased that "the council has come around to our way of thinking, but there is still some work to be done.
"Having a new mart is important, not just to us, but to the entire community in Scotland. This will add to the sustainability of the farming industry in this region and much wider afield."