46% of Shop Units at Newport Indoor Market Remain Empty
Recent data has shown trading at Newport’s Indoor Market has not improved over the last two years and in fact, there has been a slight decline in the number of retail units occupied there.
A 'Freedom of Information'** request submitted by the Newport Conservative Group revealed 44 of the 105 shop units remain empty (46%). The FOI shows this is slightly worse than two years ago when there were 43 empty units. 19 of the 80 units on the ground floor of the market are empty. Of the 25 units on the first floor, all the shop units are empty.
From Sept 2015 to Sept 2017, the Council spent £15,575 on promotional events, marketing and advertising for the market. £3,131 was spent on advertising, £3,400 on design work, £2,680 on signage and £1,776 on marketing. A further was £1,562 was spent on bus advertising and £2085 on lamp-post banners.
Newport Conservative Group Leader Cllr Matthew Evans said “The data is very concerning. The market plays a major role within the City and we want to see it succeed and prosper. There needs to be a renewed focus on this, as well as possibly relaxing the application process for potential new tenants”.
Conservative Campaigner Michael Enea said “It’s admirable that the Council have thrown all this money at the market, but there has been no improvement? I remember the 1980’s & 90s when the market was packed with traders on both floors”. Mr Enea added “There needs be an initiative to attract new traders into the Market such as offering a peppercorn lease option on the smaller first floor units like £1 per day rent for the first 12 months. This would ram the place”.
**FOI received by Newport City Council on 30th November 2017
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