23 Mar, 2016

CENTRAL MARKET ARCADE TRADERS CAN NOW LOOK TO THE FUTURE

Council’s decision at its meeting held last night provides traders with a level of certainty around their tenancies beyond September 2018 and gives them the opportunity to plan for their futures beyond this time.

Lord Mayor Martin Haese said it is important to provide tenants with a level of certainty around their leases and Council’s decision last night enables everyone to begin planning for the future.

“There is no doubt the Arcade is important to the Market District and we value the need to preserve the vibrancy of the Arcade and the neighbouring Adelaide Central Market. With last night’s decision we are now in a position to commence the master planning process for the Arcade site, with potentially, some exciting possibilities,” said Martin.

“I provided advice to Central Market Arcade Traders Association president, Craig Lunn, this morning outlining Council’s decision and will also be holding an information session for all traders.

“The Arcade Redevelopment Plan will consider the ideas and aspirations contained within Our Market District. It will build on what is strong within the Market District and work toward making a great place even better.

“We would expect to have a redevelopment plan for the Arcade with a focus on capitalising on this iconic district, driving major change and encouraging investment, to consider later in 2016.

“It really is a very exciting time to be operating in the Market District, and the future promises even more excitement and vibrancy in the area.”

Council will offer leases to traders of up to two years commencing on 27 September 2018. Leases will include redevelopment clauses notifying tenants that they will need to vacate their tenancy within six months of notification.

Arcade traders are being advised to contact their landlord in relation to their existing leasing arrangements given the landlord’s current responsibility under the ground lease.

“We are deliberately advising Arcade traders now, early on in the process, so they have time to really consider and plan for their business’s future with greater certainty,” said Martin.

Further information will be provided as plans progress.