Rent reduced for traders facing delay over new market complex

Earlier this year, Sheffield Council’s former Liberal Democrat cabinet announced it would withdraw a 40 per cent across-the-board rent discount to help the authority meet Government-imposed cuts.

The reduction was originally introduced by the Lib Dems in 2008 after traders in the market complained that the Castle Market building was “falling apart” and the poor environment was affecting takings and driving some out of business.

At that time it was hoped that a new market hall on The Moor, across the city centre, would be complete by September 2010, but the date came and went after the project stalled in the economic downturn.

Late last week, a revised completion date and plans were announced by the market’s developers, and senior councillors said they wanted to reintroduce discounts to ensure there were traders left to occupy the new building.

Coun Bryan Lodge, the ruling Labour group’s finance spokesman, said a 30 per cent discount would be reinstated, which will cost the cash-strapped authority £316,000.

He added: “The new administration has met with the market traders to see what we could do to help their businesses survive while the new market is being completed.

“The majority of the discount has been reinstated in recognition of the service and products they provide for tens of thousands of people in the city each week.

“Castle Market provides a popular shopping offer in Sheffield with value for money goods and fresh, nutritional food and we want that choice to still be available to residents and visitors.

“We thought it was only fair that we listened to the traders’ concerns and did what we could to support them.”

According to the council the outlay required to reinstate the discount for about 80 stallholders will be met by “making efficiencies in existing budgets”.

Earlier this year, traders on the market collected 14,760 signatures on a petition objecting to the Lib Dem financial settlement, which would have forced them to pay 100 per cent rents.

Coun Lodge said the inflationary increase for traders would also be scrapped this year, and said the discount would be backdated to April 2011.

The council plans to honour the discount for the next two years or until the new market on The Moor is completed, whichever is earliest.

It is understood that the discount will be reviewed annually looking at the cost to the authority, take up by traders and ongoing availability of funding.

The new schedule for the indoor market suggests that it will be ready for trading by autumn 2013, with work beginning later this year.

The rent reduction move was welcomed by most traders yesterday but representatives said the situation should never have arisen in the first place.

Roy Holland, a spokesman for the National Market Traders’ Federation said: “This is all very well, but many traders will ask whether they can last another 18 months while they wait for the new market to be built.

“It has all taken far too long.”

Coun Lodge said the authority had done the best it could in the circumstances and added: “If we hadn’t taken action it is clear that more and more market traders would have gone out of business, placing the whole Castle Market at risk.

“A city the size of Sheffield should have a market that local people can use. I think we have seen from the public reaction that the people of Sheffield have made it clear that they do not want to lose the service provided at Castle Market.”

[email protected]