Extra support for Coventry Market traders
Coventry City Council is giving market traders extra financial support to help the area hit by City Centre South redevelopment
Coventry City Council is giving market traders extra financial support and launching improvements to help the area hit by City Centre South redevelopment.
The move follows two petitions with more than 1,200 signatures calling for lower rents and better conditions.
Through the improvements traders are set to benefit from rent relief, improved signage, hoardings, and a marketing campaign to boost footfall.
The portfolio holder, Cllr Jim O’Boyle, said: “Everybody wants to see the market succeed. The truth is that it forms part of what is going to be an even better offering in the city centre and the market needs to be at the centre of that.
"We do recognise that the façade is in a terrible state and that is a legacy of no investment over a number of years.”
Adam Hunt, the city council’s strategic lead on property and development, explained the market was owned by Royal London before coming back under the council’s control in 2024. In his report he explained that while the market needed to be hoarded off for health and safety reasons, the council had considered the impact of this and come up with ways to address this.
He added: “The arrangements during the period when Royal London owned it and the council managed it meant that neither party was incentivised to invest in improving the market so capital spend has been minimal for many years.
"This has meant that the building has deteriorated and there has been no investment to make the market relevant for 21st century retail needs. There is now an opportunity to change that.”
The report stated that there had been ongoing talks between the council and the market traders committee since the early summer resulting in a range of initiatives to support traders and footfall.
These include improvements to the hoardings and signage promoting the market and a communications and marketing campaign.
Cllr Roger Bailey who, together with Cllr John Blundell, had sponsored one of the petitions, said: “I was originally contacted by a local resident who was concerned by the potential loss of the market. I feel this is a big step in the right direction as we were calling for a rent reduction and better promotion.
“I am very grateful for what has been offered and it is a very positive step. I just hope it is enough for some of them who are very close to the line.”