Bury Council has announced that rents on Bury Market will be frozen for a further 12 months to ensure that traders can keep their costs low to benefit customers.
Due to the cost-of-living crisis and increased costs of wholesale goods and services, market traders were having to pass on increased costs to the customer. Bury Market supports many communities and provides low-cost, high-quality products.
Energy costs have also rapidly increased, which is affecting the retail sector and the market traders.
Bury Market dates back to the 1440s and attracts more than 150,000 visitors a week, plus 20 coaches of visitors a day. It has won multiple awards, most recently Best UK Market Attraction, and is a key tourist attraction in Bury.
Councillor Charlotte Morris, cabinet member for the economy and culture, said: “Bury Market is rightly described as the jewel in the crown of Bury, with more than 95% occupancy.
“We need to help the traders at this challenging time. We have not increased rents for seven years, and provided substantial support during the Covid pandemic.
“This is why we are freezing rents again, at a cost of £87,000, to ensure that traders can continue to provide high-quality produce at a low cost.
“The rent freeze also recognises that there will be some disruption during the building of the new Flexi Hall and replacement of the market roof, thanks to the council winning £20 million from the Government’s Levelling Up fund.”
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