Bull Ring Market traders to get rent freeze

By on 24/02/2010 in News

The Bull Ring Market traders are being supported through the tough economic times by Birmingham City Council after a rent freeze was proposed for stallholders for the 2010/11 financial year.

The plan, which benefits those working at the Bull Ring Rag and Bull Ring Open Markets has been drawn up following extensive talks with traders, who reported that they had found times challenging over the last 12 months.

It will be complemented by a scheme to create starter stalls for new traders with cheaper rents for three months as part of the effort to add freshness to the mix at the sites, which have their main market days on Tuesday, Thursday, Friday and Saturday.

The proposals, approved on February 22, will mean that a basic stall at the Rag Market will cost just £16.40 on Saturdays, while an Open Market stall on the same day could be rented for as little as £29.90 on the same day.

Cllr Paul Tilsley, Deputy Leader of Birmingham City Council, said: “As a former market worker myself, I fully appreciate that these venues are a vital part of the retail offer we have in the city.

“The traders and the items on sale are both first-class, so it is important that we do our bit as the market landlord to ensure that business thrives - and that new stallholders are able to get their foot onto the ladder.

“Our proposal to freeze rents is a sign of our commitment to the markets.”

A report proposing the rent freeze also reveals that the Open Market and Rag Market are currently operating at 84 per cent and 94 per cent on the main market days - which is comparable and better than many high streets across the country.

Footfall for 2009 at the markets was 3,701,643, a reduction of 152,104 (3.9 per cent) on 2008. However the figures for 2006 and 2007 were 3,701,781 and 3,806,349 which means that the most recent years are comparable with the pre-recession period.

ENDS

For further information contact Kris Kowalewski on 0121 303 3621

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