Market traders to pay service charge to cover costs of move to new site
- Credit: Archant
Great Yarmouth market stall holders will pay a service charge to facilitate the costs of their move to a new home.
At a Great Yarmouth Borough Council policy and resources council meeting held on September 22, it was agreed the costs of moving traders’ equipment to their new stall would be paid off by a long-term charge on their leases, rather than making them take out a loan.
Council asset manager Jane Beck said: “We now have planning permission for the market proposals so can take the next step.
“The pandemic has delayed the project by six months, but we’re hoping to start drilling boreholes in eight places around the market place in October.”
This work will start October 5 and will take a week to complete.
Ms Beck said the work would cause “necessary disruption” before general construction commences in early 2021.
She said: “Eighty per cent of traders are looking to move into new units and every one of these has been given their first or second location preference. But some will leave the market altogether.
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“We want as many traders as possible to make this journey forward with us.
“The lease will mirror what the traders’ costs are now, because we agreed at the start of this project that they wouldn’t see an initial increase in their rents.
“The charge would be specific to how much it costs for the trader to move, and how long they are planning to stay at the market. It could be that the charge is applied over the entire course of their lease.”
Trevor Wainwright, the council’s Labour group leader, said plans have been welcomed by stall holders.
He said: “Carl Smith and I sat in on a meeting with the six-day traders a few weeks ago, and there wasn’t any dissent at all with what we are proposing.
“But there would be the option for traders to pay off the service charge in its entirety at any time if they should wish.”
The recommendation follows concerns raised by market traders that the upfront costs of moving would be difficult to manage in the aftermath of coronavirus, with Market Cobbler stall owner Mick Mann asking for “guarantees” that the council would help process the move.Councillors approved the service charge proposal unanimously.