A DEAL looks to have been reached on a long-running row over rents in Oxford’s historic Covered Market.

All but four traders in the market have now accepted Oxford City Council’s latest offer, bringing an end to a two-year dispute.

An offer of a 16 per cent rent increase with a deal on back payments has been accepted by those traders.

The tussle began in 2012 when the council proposed hikes of up to 70 per cent, but the matter went to arbitration for five test cases after bosses failed to strike a deal.

The arbitrator suggested a 7.3 per cent rise for those cases but the council would not meet a traders’ association call to apply this to its 40 members.

The council claimed there was an error in the calculations.

It had previously proposed that traders would have to pay the final agreed rent increase backdated to March 2012.

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Yet it has now said those who accept the 16 per cent increase will have to pay it from October 25, 2012.

Vicki Alder, of Macsamillion shoe shop and a director of the Covered Market Traders’ Association (CMTA), said: “Obviously I am pleased it is finally settled though I am not pleased with the outcome.

“Personally I believe the rent is still rather high and most people settled simply because it has gone on for too long.

“The fact that it includes a provision for the back rent is the only reason that I settled.”

Sandie Griffith, of florist Jemini and secretary of the CMTA, said: “I expected most people would accept it because the risk of going to arbitration is high if you are only going to cut a couple of per cent off the rent.”

Council spokesman Chofamba Sithole said: “The council is pleased that the majority of the tenants have confirmed they wish to accept the offer.

“There are only four tenants who have not confirmed they wish to accept the offer.

“The next step, in those cases, will be to refer them to arbitration.”

“Contractual confidentiality” meant he could not reveal which four traders had rejected the increase.

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