Traders at St Nick’s Market face a fee hike as Bristol City Council is planning to take a slice of their income. The popular lunch destination for office workers and tourists alike is home to a wide range of food traders, as well as arts and crafts, clothes and more.
Attracting 3.7 million visitors last year, St Nicholas Market in the Old City dates back to 1743 and hosts 63 independent traders, directly providing more than 130 jobs. A further 50 traders set up at regular outdoor markets on Corn Street and Wine Street.
The plans to increase the fees will be discussed by councillors on the economy and skills policy committee on Monday, December 9. A committee report set out the details of the proposed changes, with a number of options on the table, including putting on more night markets.
The report said: “The Glass Arcade has the lowest fees but this is the most lucrative element of the market, with 75 per cent of the 3.7 million visits in 2023. It is not reasonable for the most profitable element of the market to be charged the least.
“There is scope to invest in the market to provide better infrastructure for the current traders, through operational improvements and more effective emergency repairs. It may also be possible to put on events and night markets. However, this will require additional investment which is not justifiable when income targets are not being achieved.
“It appears that the current low fees are resulting in a low turnover of businesses within the market. Ensuring there are regular opportunities for new traders to take up, create and grow new market businesses is important to ensure a mixed and changing offer, encouraging customers to return again and again.”
The market has a waiting list of 40 traders, including 21 for food stalls and 13 for retail. About half the current traders there have been at the market for over a decade, with some for more than two decades.
In the Exchange Hall, the average weekly fee for a business is £177.16; while in the Covered Market it’s £158.61; and in the Glass Arcade £123.93. The Exchange Hall is mostly retail, the Glass Arcade is food and drink, and the Covered Market is services and retail, plus three new food units since September.
This year, the council plans to spend £591,000 on the market. This includes £436,000 on staff, £122,000 on maintenance, £17,000 on marketing and printing, and £4,000 on security and radios. Over the last five years, £770,000 was invested in things like upgrading CCTV and wifi.
In total, the council expects to make £646,000 in income this year from market traders. But this is much less than the income target of £746,000, which will likely rise to £761,000 next year. Many council departments set an income target, partly due to the long-term effects of austerity.
Options for the fee hike include a flat percentage increase to all fees, and applying a fee based on the turnover of food and drink traders. This could mean food traders paying the council 15 per cent of their turnover.
A similar plan recently sparked outrage among traders in the city’s parks, such as from a popular coffee van in Fishponds on the Bristol to Bath Railway Path. The council will consult traders for six weeks about the proposals, before making any final decisions.