STALLHOLDERS on Accrington’s indoor market have been given a rent reduction because of the coronavirus pandemic.
On Thursday Hyndburn Council’s Cabinet confirmed the 22.5 per cent cut backdated from April 1 and lasting until March 31.
The decision follows a letter from 12 traders calling for immediate reduction of at least 50 per cent in the rents, the total removal of all service charges and a review its policy of charging full rent and service charges whilst the traders were locked out and prevented from working during lockdown.
A report by boroughenvironment boss Cllr Paul Cox said: “Trading conditions within the indoor market continue to face unprecedented pressures from reduced footfall as a result of on-line shopping and out of town centre retail centres/supermarkets following the coronavirus pandemic and this is likely to be for the foreseeable future.
“This proposal sets out a 22.5 per cent rent concession for the period April 1 2020 to March 31 2021, which would reduce the current market hall charge from £13.30 per square foot to £10.31 per sq. ft.
“This would see the Council facing a reduction in rental income of approximately £27,000 for the financial year 2020/21.There is no proposal to make any adjustments to the service charges as these are simply passed on to the trader at cost.”
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