Concessionary rate for Market Drayton indoor market traders to continue until review in the new year
A concessionary rate paid by Market Drayton's indoor market traders will be held at the same level for at least the next three months, it has been announced.
Negotiations have been held between Shropshire Council and its managing agent, LSD Promotions, over the £10-per-stall per-day concessionary rate paid by traders at Market Drayton Indoor Market.
The local authority had previously been planning to lift the concession.
Now it has been announced that the concessionary rate of £10 will be charged until the new year, when it will be reviewed again.
Councillor Dean Carroll, Shropshire Council’s cabinet member for housing and assets, said: “This is great news for Market Drayton and for the market traders.
"We have worked closely with LSD, who manage the market on our behalf, to negotiate a reduction in their management fee.
“As a result LSD has agreed to reduce their fee to cover the cost of providing the concessionary rate that they believe needs to be retained to keep the indoor market full.
“This will enable the current concessionary stall rate to be passed on to the market traders for a further three months, with a further review in the new year.”
Siobhan Noake, marketing and PR manager at LSD Promotions, said: “LSD Promotions is committed to creating an environment where traders can thrive, innovate and succeed.
"The announcement is a testament to this commitment and underscores the importance of the market community to the town’s economic and cultural landscape.
“The decision to continue the reduced rent rate aims to facilitate the growth and prosperity of the town’s small local businesses.
"The reduced rate will be reviewed in the new year to ensure that it remains aligned with the evolving needs of both the market and its traders.
“Traders are a vital part of Market Drayton’s market family, and their presence, unique offerings, and entrepreneurial spirit contribute significantly to the market’s vibrancy and the well-being of the town.”
North Shropshire MP Helen Morgan has welcomed news that rents will be continue to be frozen at Market Drayton Indoor Market until January.
The local authority had previously been planning to lift the rate relief, until intervention from the MP last month on behalf of traders asked them to reconsider.
Several stallholders had worried of being put out of business by increases, something that would have signalled a major step backwards for the market which is now again at full capacity.
Ms Morgan, who picked up the good news while talking to traders in the town at the weekend, said: “Market Drayton is a proud trading centre with a heritage going back to the Domesday book.
“Freezing rents at the indoor market had been a great innovation and had led to a noticeable increase in the number of stalls – which is why I and many traders were so frustrated by plans to put them right back up again.
“I am really pleased that Shropshire Council have seen sense on this and extended the rent freeze for traders.
"It is a difficult economic climate for small businesses and it would have been disastrous to take one step forward only to go right back again.”
Market Drayton indoor market is owned by Shropshire Council, and managed on its behalf by LSD Promotions.
For more information on the market, visit lsdpromotions.com/market-drayton-markets
