‘Council must treat this as wake-up call’ (From Oxford Mail)
Get involved: send your photos, videos, news & views by texting OXFORD NEWS to 80360 or email us
‘Council must treat this as wake-up call’
9:30am Thursday 18th October 2012 in News
By Andrew Ffrench, covering Didcot and Wallingford. Call me on 01865 425425
Buy this photo »
Mary-Ann Price and Vicki Alder outside Oxford Boot Store, which is closing after 37 years
OXFORD’S historic Covered Market faces “unprecedented” upheaval, with roughly one in six businesses looking to sell up.
Traders are blaming a threatened hike in rent costs and competition from the internet.
Of the 58 businesses at the city centre market, 10 are looking to move on.
The latest casualty is The Oxford Boot Store, which is set to close after more than two decades.
The store is part of Macsamillion, which started from a stall in the market in the early 1970s before launching a store in 1975.
Macsamillion chairman Vicki Alder, 50, from Grove, said: “This was not an easy decision to take because this is a family business.
“The rent and the Internet were the two big factors – the city council was asking us for a 40 per cent rent increase in the current negotiations, which is tough when takings have come down.”
Macsamillion runs two Macsamillion stores as well as The Oxford Boot Store.
But ‘closing down’ signs have gone up in the window of the boot store, which opened in the mid-1980s.
The shop will remain trading until the lease is sold, with the two staff redeployed to Macsamillion.
“Perhaps this will be a wake-up call to the council that they could face losing independent traders from the market,” said Ms Alder.
Oxford-based property management company Central Business Agency is now handling the sale of leases.
Partner Stephen Reeves said: “I’ve been doing this for 30 years and this is an exceptional period for the Covered Market.
“This is unprecedented – there are a number of traders disenchanted by high rents and other factors.
“We have also been consulted by several other traders about the possibility of selling."
Four of the 10 are to be sold as going concerns, but six are looking to close down. Currently there are no vacant premises at the market, which opened in 1774. The 10 leases have been on the market for the last six to nine months.
Earlier this year it emerged that rent increases faced by traders in the historic market off High Street varied between 40 per cent and 70 per cent, and rents on the shops are being reviewed by landlord Oxford City Council.
Sandie Griffith, a spokesman for the Covered Market Traders’ Association, who runs Jemini flower shop, estimated that up to 30 per cent of total floor space – 27,700sq ft – was for sale.
She added: “A lot of traders are frightened by the latest rent increase being proposed, and I can’t afford to stay here.”
Leases are also up for sale at The Oxford Engraver and children’s clothes shop Two Foot Nothing.
Alex French, 22, assistant manager at the engraving shop, said: “We are facing a 40 per cent rent increase and have already gone down from three units to one.”
The market’s leasing strategy says chains are not generally permitted, and some traders complained when national chain Cards Galore took over the former Palms delicatessen shop earlier this year.
The council says it routinely reviews the rents every five years.
Executive member for city development Colin Cook said: “This situation is not just down to high rents. It’s partly as a result of the age of some traders, who are looking to retire and cash in their chips.
“When rents are assessed for market traders we look at close comparators on the high street.”
Comments are closed on this article.
Comments (13)
9:45am Thu 18 Oct 12
Cathena says...
11:25am Thu 18 Oct 12
Dilligaf2010 says...
Covered markets should have a peppercorn rent to allow traders the chance to start a business, once they've become established they should then be encouraged to move to alternative premises, independent traders should be given every opportunity to start up, Oxford needs more affordable shops.
3:18pm Thu 18 Oct 12
paul from Kennington says...
3:34pm Thu 18 Oct 12
King Joke says...
It's very disappointing that the City seeks to maximise income from the market rather than maximise amenity and attractiveness to users, but it's legally obliged to do so. To do otherwise suggests accepting higher council taxes to support a facility known for its aesthetic rather than commercial value. I'd be happy with this but it would meet with quite some opposition.
Blaming OTS is nonsense though. A few hundred vehicles an hour is chicken feed compared with the thousands of people milling around on Cornmarket and the top end of The High. Oxford's transport system is clearly succeeding at delivering large numbers of people to within 50 m of the Covered Market - so many in fact that it is hard to move on busy days. If these people are not coming into the Market then it needs to be better promoted. Why in God's name does the main Cornmaket entrance to the Market say 'Golden Cross' instead of 'Covered Market' for instance? The High St entrances are also pretty lack-lustre and need big, bold, bright signs outside promoting the Market.
THe Market may be a gem, but then so is the The High. Ruining THe High by reversing OTS and restoring the nose-to-tail stationary traffic of the 80s and 90s would not bring any more trade back to the Market, as it was proven at the time that most of it was through traffic.
6:42pm Thu 18 Oct 12
paul from Kennington says...
7:08pm Thu 18 Oct 12
King Joke says...
I was attacking (or questioning) the rather tenuous link between OTS and the decline of the market. I've been using the market since 1999, a few weeks in fact before OTS. At that time there were two butchers and one greengrocer... so OTS is hardly to blame, the decline of traditional food shopping must have started long before OTS. Losing one butcher in thirteen years in unfortunate but not the fault of sensible traffic management.
If people aren't buying food in the Market it may have something to do with the huge Sainsbury's at Heyford Hill, the huge Tesco's at Cowley, the two Tescos and two Sainsburys in the city centre and the numerous examples of the same dotted around the suburbs. This is the same all over the country.
THere are still some useful specialist shops in the Market, the running shop and Chocology both offering goods or expertise you can't easily find elsewhere.
Palms Deli was a loss. Palms was pretty busy every time I went in but was killed by high rents. So it really isn't a matter of delivering potential custom to the site, and it really is a matter of moderating rents to encourage different and quirky shops to stay in the Market.
7:46pm Thu 18 Oct 12
paul from Kennington says...
8:33pm Thu 18 Oct 12
CowleyBoy says...
How can you possibly base the rental charge for a small shop in a covered market on a "close comparator" on the high street? There is no close comparator. I'd love to see the rent as a % of turnover for one of the big shops on Cornmarket, compared to that of a CM trader. My guess would be that the latter is much worse off.
9:10pm Thu 18 Oct 12
Geoff Roberts says...
9:17pm Thu 18 Oct 12
Geoff Roberts says...
I'm wondering if this issue is more about the state of this city's finances than people's buying habits though?
11:44pm Thu 18 Oct 12
the wizard says...
8:40am Fri 19 Oct 12
King Joke says...
Markets in the traditional sense have disappeared over the whole country following the rise of the supermarket. Oxford is not unique in this, and in the main, markets surviving do so in larger cities like Birmingham, Leicester and London (Borough Market for eg). Even those which survive have branched out into cheap clothing, electricals etc instead of just food. Visit Leicester to see what I mean.
Butchers like Alldens and Fellers are always going to be niche, specialist places, as they can't compete on price with the supermarkets, so this kind of operation fits perfectly with the 'quirky arcade' model you describe.
Cowley Boy, I'd go even further and set rents proportional to square footage, including any dedicated parking. That way the City could use Tesco's in Cowley, for eg, as a cash cow instead of the Covered Market.
1:29pm Fri 19 Oct 12
Joy Hetherington says...