Following a comprehensive review, the Council has frozen or reduced most charges paid by traders to occupy indoor and outdoor stalls at Accrington Markets.
The Council’s Cabinet approved a new charging structure which will be implemented from 1st October 2018. Indoor Market Hall traders will see their rents reduced by 10.5% on 1st October 2018 and reduce again by 2.9% twelve months later, on the 1st of October 2019. The overall 13.4% reduction means a typical monthly charge for the indoor market Hall of £658.23 plus VAT will reduce to £570.27 plus VAT, a decrease of almost £88 per calendar month.
The vast majority of outside stall charges have also been reduced or frozen.
Councillor Clare Cleary, Cabinet Member for Accrington town centre, said, “the Council is fully committed to Accrington’s indoor and outdoor markets, and, having carried out a comprehensive review, and recognising the trading challenges facing some of our tenants, we have either frozen or reduced the charges paid where at all possible. We want to ensure the charges remain competitive and comparable with other retail premises in Accrington town centre”.
Councillor Cleary added, “This reaffirms our commitment to making the Markets a key shopping and food offer that forms part of our long term vision for Accrington town centre. This is a really exciting time for Accrington town centre and with the imminent completion of the new town square, with many events planned for the future; we are expecting our Market traders to benefit from an increase in footfall.”