REDUCE STALL RENT IN NEWPORT MARKET
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10 years ago the market was buzzing and the place to visit in town, everyone loved spending their days there, with friends and family. It's a treasured building here in Newport City that celebrates and supports hard working small independent/ family businesses.
Now Newport Market is suffering with a lack of stalls run by independent small business owners.. the reason why? The stall rents are too high! Over the years the rents have increased incredibly but the business and footfall in the market has not.
Lack of footfall in the Market has decreased outstandingly due to the renovations of Newport town and Frais Walk in the town centre, the result is less people shopping at Newport Market and evidently not sopporting local business, causing them to close down.
The AVERAGE rent for a stall is FROM £150 PER WEEK!
And the HIGHEST rent for a stall is over £300 PER WEEK!
Do the math..
High rents = less stalls = less people visiting the market = stalls closing down etc....
Will the Indoor Market be open to the public in the future if all traders are not able to keep their business running for any longer?
This is a vicious cycle that needs to end.
Aswell as the rents being high the building standards are also suffering, us traders have been demanding to renovate the public toilets to a high standard for years, its basic work that must be ahead to, and yet for some reason we are continuously given excuses why the work is being delayed. Such as: the money to improve the toilets... well as traders where is the rent money exactly going?.... if it is not going to a basic public need such as TOILETS then where is the money exactly going and being used?
I am a trader myself and have been for the last 30 years in Newport Indoor Market aswell as my family that also have stalls in the Market. This is FAMILY BUSINESSES suffering, this is hardworking people and their livelyhood, money, job at risk.
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