Rent cut agreed in bid to save West Bromwich market
Council bosses have agreed to cut rents at an indoor market as struggling traders fear for its survival.
Traders called on Sandwell Council to cut rent prices at West Bromwich Indoor Market Hall by 50 per cent. But the local authority has agreed to a compromise and offered a temporary 25 per cent reduction for six months.
Traders have welcomed the move and believe it will help to secure the future of the Kings Square-based site.
Ken Bedford, who runs a blind stall, said: “Without the 25 per cent cut, 90 per cent of stalls would close and the market would be damaged.”
Councillor David Hosell, cabinet member for highways and environment, said: “We are offering a temporary reduction for a six month period. At the end of that period, we will carry out a review.”
The proposal began after traders handed in a petition, signed by 44 people, to Sandwell Council, which requested a ‘50 per cent rent’ and ‘write-off of rent arrears’.
While a rent reduction has been agreed, Sandwell Council is looking more closely into the latter request, as wiping off arrears - or money owed - is more complicated.
The move to cut rents by 25 per cent needs to be approved by council bosses at two meetings - the cabinet and full council - before it can be rubber stamped.
But if it gets successfully passed, the initiative would come into effect in October.
The indoor market has lost stalls to the neighbouring Kings Square due to cheaper rents and bigger shop premises being offered, traders have claimed.
Mr Thiara, who runs West Bromwich Sports, said six business have moved from the indoor market to King’s Square after they were approached with more lucrative deals.
Mr Bedford said: “We pay £650 a month in rent. Kings Square have offered traders £100 a week for rent in bigger premises. Around 37 stores here are empty.”
He said traders in the indoor market feel like they are an ‘inconvenience’ to the council which doesn’t want them there.
Manish Kapoor, who moved from the indoor market to Kings Square, said: “I am glad I have moved.”
Mr Thiara added: “I welcome a cut in rents, that will help us otherwise I think after Christmas more people will go.”
He added: “The council don’t do any advertising for us, there is no signage to say we are here.”
However Councillor Hosell said the council was prepared to work with traders in improving the site.
