Market rent increasesput on holdfor a year

POTENTIAL rent increases for market traders in Rotherham are set to be put on hold for a year, after traders said they could not afford any rise because of the economic downturn.

Rotherham Council has confirmed that, following consultations with the traders at Centenary Market, it has agreed to defer any increases in rent until the end of the current financial year.

The council says its decision was made following a recent meeting with market trader representatives, who said that Centenary Market was continuing to attract shoppers despite the recession but any rent increase could have an adverse effect on business.

Market trader representative Mike Smithson, from “Mike’s Famous Bookstall”, said: “The council’s 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.

“Rotherham’s indoor and outdoor markets are home to more than 260 independent traders and currently attract more than 85,000 shoppers each week.”

Coun Richard Russell, Rotherham Council’s cabinet member for the town centre, said the council was “very keen” to support market traders and would work 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.”

Rotherham also hosts a weekly market each Tuesday in Effingham Street, and a monthly farmers’ market on the last Wednesday of each month.