Plans for revamp of market gather pace
PLANS to revamp Bridgend Indoor Market are gathering pace with new businesses having signed leases for stalls and designs in place for the creation of a new central market square.
In June a report by officers went before Bridgend County Borough Council’s (BCBC) cabinet which urged “radical and prompt” action as growing numbers of traders were leaving over high rents and the market was no longer sustainable.
However since plans were agreed to drop rent rates, spend money on an uplift, and create a space for a play area, seating and events, businesses have been signing up.
Among the new businesses in the market are those selling vintage vinyl, protein health food, and Welsh gifts as well as boutique fashions and specialist wool and knitting supplies.
Lucas Logan, who set up Power Meals in January with help from Bridgend College and a grant from Business Wales, had previously been based on the Bridgend Industrial Estate but decided to move to the indoor market when he saw an article on the cut rates.
Based on a “build a box” concept, customers can choose from a range of bases, proteins and healthy extras.
He said his sales have doubled as a result of being in town with the most popular dish being spicy rice with fajita chicken, broccoli and sweetcorn.
His girlfriend Jess Morgan who helps out on busy days said: “It’s awesome here.
“There’s a car park opposite so it’s easily accessible and there’s lots more passing trade.
“The new improvements will be great, especially the play area.”
Charlie Smith’s Music 33 shop – named partly after the unit itself and because it’s the speed an al- bum would play – opened earlier this week.
Buying and selling new and second-hand vinyl, CDs, cassettes and music memorabilia, Charlie has spent the last few years doing record fairs all over the country.
He said: “We just thought we would have a crack at doing something different which is more local and hopefully save travelling all around.
“There’s no-one else in Bridgend offering the same service and so far the reaction has been very positive.
“Lowering the rates did make a difference – we were trying to find somewhere suitable and the High Street rates were too high to start off with.
“We have got lots of plans.
“We’re hoping to link up with local music bands and run workshops and maybe see if we can have some sort of PA system installed in the market for bands to perform and promote their music.
“There’s a good music scene in Bridgend.”
More established traders say the market revamp has been a long time coming.
Kim York from Snack Shack, which has been based in the market for 16 years, said: “The uplift is definitely needed – the council is obviously trying to increase footfall in here.”
Michele Chambers, chairman of the market traders association and owner of the jewellery shop Masfina, said: “Everybody fells very positive about the market and the new traders coming in.
“The market is certainly more vibrant.
“The changes being made are going to make the two entrances a lot more welcoming.
“We just want to create a nicer place for people to shop.
“If the work is completed by Christmas we plan to have carol singing in the central square and other events.”
Cabinet member for regeneration and education Charles Smith said there was strong interest in the remaining five available stalls.
He said: “In June we promised to take radical action to bring the buzz and vibrancy back to the indoor market and I am delighted to see how our plans are starting to deliver positive results within just a few short months.
“Market traders, the Rhiw Shopping Centre, Bridgend Town Council, the CF31 business improvement group, Watts and Morgan, local elected members and Bridgend County Borough Council have all worked closely together to tackle the unique challenges that this project has posed.”
The new rent system and flexible lease terms are in place for new stallholders while existing stallholders are benefiting from significant rent reductions until April 2020.
The plans for the exterior of the market involve an installation of a series of illustrative panels which will advertise some of the available stalls and provide information about its history.
As part of the revamp the historic market bell, which dates back to 1837, is being relocated from its position within the Rhiw Shopping centre to create a new landmark feature which will help raise the market’s profile.
The council owns a 99year leasehold interest in Bridgend Indoor Market but does not own the premises itself.
The lease is reviewed every 14 years but was last reviewed in 2007 – just before the financial crisis.
Many traders had cited the rents as being too high, compared to other retail units in Bridgend and similar markets in Wales, as their main reason for leaving as well as the high vacancy rate.
The full running costs for the market are currently estimated to be around £360,000 a year.
In June, officers said the indoor market was expected to make a loss of nearly £200,000.
Anyone interested in running workshops or demonstrations in the new central square can email Michele on info@ masfinajewelleryandgifts. co.uk