Rent reduction at Kirkgate Market extended
As part of Leeds City Council's support to traders during the refurbishment of Kirkgate Market it has been agreed to further extend the reduction in rent for regular traders until the major works are completed.
A 20 per cent rent reduction which has been in place for the past 18 months for indoor traders and 15 months for outdoor stall holders, will be extended until the end of April 2016, after which time the main construction works to the indoor market will be completed and the areas that have been behind hoardings since March 2015 will be reopened to the public.
The £13.7 million pound refurbishment has been underway for the past year and although much work has taken place to minimise disruption to trade, Leeds City Council has agreed to extend the existing arrangements to offset the current trading conditions.
Councillor Richard Lewis, executive member for regeneration, transport and planning said:
“Leeds Kirkgate Market is undergoing a substantial transformation and the improvements will help keep the market as a really great place for residents, visitors and traders. Whilst works will be continuing for some time, those that cause the most disruption are due to be completed soon and by the end of the month everyone will be able to see what a great job has been done and will recognise what a difference these improvements have made.
“We realise that during these refurbishments there has been disruption to both businesses and customers. That’s why, following discussions in the last few weeks, we have taken the decision to extend the 20 per cent reduction in base rents for traders for a further month for regular traders at Kirkgate indoor and outdoor markets.
“We know that whilst we have been investing in the market’s future, many traders have also been putting their own money into investing in their stalls, something that will help us work together to create a great market experience for everyone.”
Once completed the newly refurbished market will form part of a prime retail location for the city, alongside the new Victoria Gate development. These improvements will make the market even more attractive to existing and future customers and traders.