The popular market in Bury St Edmunds looks set to thrive for years to come after St Edmundsbury Borough Council worked with traders to negotiate a new deal on rents.
And the agreement came on the same day as the twice weekly provisions market was handed a prestigious national honour when it become one of only three in the country to be awarded ‘highly commended’ status in the NABMA’s Market of the Year contest.
A series of meetings to discuss a rent increase for stall holders have taken place over the last two months. Traders were concerned at the potential level of any rise but, following consultation, a decision was taken to keep the increase down to between 4 and 5 percent.
It is the first time the market toll has risen since April 2005. Between April 2005 and April 2008, the Retail Price Index will have risen by a projected 10.5 percent.
Cllr Nigel Aitkens, St Edmundsbury’s Cabinet member with responsibility for markets, said:
“Naturally everyone connected with the popular market wants to see it thrive, and we’re delighted to have come to an agreement with the traders which will ensure it continues to do just that. We listened to the concerns which were raised by some of the stall holders at our initial meeting and went away to rethink the proposals as a result. Everyone left Friday’s meeting happy – especially in the light of the news about the commendation awarded to the town in the Market of the Year competition.”
Bill Grimwood, vice chairman of the Bury Market Traders’ Association, said:
“We are all pleased with the result. Both sides have worked together, with is beneficial to everyone, and we can go forward from here. Bury St Edmunds is the hub of East Anglia and the market is a massive part of that, doing so much to draw people into the town. We need to keep it that way.”
Around thirty stallholders attended Friday’s meeting, along with Cllr Aitkens and other council representatives. Plans for more marketing activity were also discussed at the meeting, along with other initiatives, such as more regular meetings between the council and traders.
ENDS
Note to editors: Bury St Edmunds was highly commended in the ‘best outdoor market’ category of the NABMA (National Association of British Market Authorities) Market of the Year awards.
Birmingham won the category. Other markets which were highly commended were Manchester and Hexham.
ISSUED BY LIZHEARNSHAW, COMMUNICATIONS UNIT, ST EDMUNDSBURY BOROUGH COUNCIL. Tel 01284 757033. liz.hearnshaw@stedsbc.gov.uk
