The Old Market Community Association have published their vision of a redeveloped Old Market and West Street.

http://www.oldmarketquarterfuture.org

The Bus Stop Island would be removed and the pavement widened. No mention of any cycling facilities, be they lanes or even parking is mentioned in their plan, other than to route cyclists away from this logical thoroughfare.

The plan is here http://www.oldmarketquarterfuture.org/wp/wp-content/uploads/2013/05/Old-Market-Quarter-draft-neighbourhood-plan.pdf

They are having a meetings later in October 2013.
17th October 2013 – NPN Quarterly meeting
23rd October 2013 – proposed OMQ Neighbourhood Plan Briefing event.