News: Rent increases postponed for Rotherham market traders
Rotherham Borough Council has confirmed that following consultations with the traders at the Centenary Market in the town centre, it has agreed to defer any increases in rent until next year.
The decision was made following a recent meeting with market trader representatives who reported that the Centenary Market, with its indoor and outdoor sections, continues to attract shoppers despite the economic difficulties.
However, the authority agreed that any increased charges could have a detrimental effect on some traders.
It has therefore been agreed to delay any rent review until the end of the current 2010/11 financial year.
The Indoor and Outdoor Markets currently provide stalls for more than 260 independent traders and attract in excess of 85,000 visitors each week.
Cllr Richard Russell, the Council's Cabinet Member for Town Centres, said the authority was very keen to support local market traders and will work together with them to help guarantee the future success of the markets complex.
He added: "Although our Centenary Market continues to attract a loyal core of shoppers, the current retail environment is still tough and any increased charges at this time could have a negative impact on those traders who are suffering hardship during the current economic climate.
"We are aware that the market's fees and charges relating to the Centenary Market complex are subject to VAT and as such will rise by 2.5 per cent when the new rate comes into effect from January 4."
Market trader Mike Smithson from Mikes Famous Bookstall, said: "The Council decision to defer any rent increases until 2011 will certainly be welcomed by all the traders at Rotherham Markets.
"Retailing in the current economic climate is not easy, but it is reassuring to know that the Council recognises this and is prepared to work with the traders to help keep a thriving Rotherham Markets complex."
More than five new businesses have started trading in the complex this year.
Rotherham Markets website
The decision was made following a recent meeting with market trader representatives who reported that the Centenary Market, with its indoor and outdoor sections, continues to attract shoppers despite the economic difficulties.
However, the authority agreed that any increased charges could have a detrimental effect on some traders.
It has therefore been agreed to delay any rent review until the end of the current 2010/11 financial year.
The Indoor and Outdoor Markets currently provide stalls for more than 260 independent traders and attract in excess of 85,000 visitors each week.
Cllr Richard Russell, the Council's Cabinet Member for Town Centres, said the authority was very keen to support local market traders and will work together with them to help guarantee the future success of the markets complex.
He added: "Although our Centenary Market continues to attract a loyal core of shoppers, the current retail environment is still tough and any increased charges at this time could have a negative impact on those traders who are suffering hardship during the current economic climate.
"We are aware that the market's fees and charges relating to the Centenary Market complex are subject to VAT and as such will rise by 2.5 per cent when the new rate comes into effect from January 4."
Market trader Mike Smithson from Mikes Famous Bookstall, said: "The Council decision to defer any rent increases until 2011 will certainly be welcomed by all the traders at Rotherham Markets.
"Retailing in the current economic climate is not easy, but it is reassuring to know that the Council recognises this and is prepared to work with the traders to help keep a thriving Rotherham Markets complex."
More than five new businesses have started trading in the complex this year.
Rotherham Markets website
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