Reduced rents for Market Drayton traders extended

Shropshire Council had introduced the incentive at Market Drayton indoor market to generate new interest

Traders at an indoor market will continue to be charged a reduced stall rent for another three months.

Shropshire Council introduced its rate of £10 per day to all new stallholders at Market Drayton market.

But concerns rent would be raised back to its original level, minus a 25% discount, of £32 per day left traders fearing for their businesses.

The council said the concessionary rate would now remain in place until a review in the new year.

The local authority had previously said it needed to raise income to finance the running costs of the market.

Dean Carroll, cabinet member for housing and assets, said the concessionary rate was "great news" for market traders.

He said the council had worked closely with managing agent, LSD Promotions, to negotiate a reduction in their management fees.

"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," he added.

Siobhan Noake, marketing and PR manager at LSD Promotions, said the company was committed to creating an environment where traders could "thrive, innovate and succeed".

"The decision to continue the reduced rent rate aims to facilitate the growth and prosperity of the town's small local businesses," she said.

"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."