Myths vs Facts: Market edition

Heard some rumours flying about the market? We put some local whispers to rest by busting some myths about the current state of the Market.

The developer intent

Myth: The developers want to build a new “market” with the same look and feel as the current market!

Fact: The developers want to knock down 80% of the existing market and build a smaller shopping centre in the corner of the site, a car park on top of the remaining fruit shed, get rid of the variety section entirely, and add additional shops such as a supermarket.

The renovation process

Myth: If we keep the market as it is then it needs to be closed for two years for renovations and plumbing work, and this will end the traders' businesses!

Fact: The market can be maintained and renovated with minimal disruption to the traders’ businesses, as happens all the time in the construction industry.

Rent terms

Myth: The only way for the traders to get long leases and reasonable rents is if the developers are allowed to knock down the market and build the new “market”!

Fact: The developers could give the traders reasonable rents and long leases right now, but instead they have reduced leases and increased rents, effectively using the traders as hostages to get what they want.

“Save The Traders” purpose

Myth: “Save the Traders” is a group that wants to keep the traders in business.

Fact: “Save The Traders” is a campaign run by the developers to trick the community into thinking that the only way to save the market, and the traders’ businesses, is to allow the market to be demolished.

Security in the new market

Myth: The developers care about the traders and will transfer them to the new shopping mall!

Fact: The developers have been running traders out of the market for several years now. None of the existing traders have received any sort of written guarantee or contract about their place in the new shopping centre.

Public aquisition

Myth: Public Acquisition is not possible - it’s too expensive, and has never been done before!

Fact: Public Acquisition has been done many times, and the market is an investment in the wider community. of itself, as well as being an investment in the wider community.