Council leader attacks Greenwich Market bosses over plan to increase trader rents by 30 per cent

Plans to increase rents by 30 per cent at an historic market could “kill off” the entire square, town hall chiefs have warned.

Traders at Greenwich Market face the huge extra costs in a move which could deal a blow worth millions of pounds to the local economy, says borough leader Cllr Dan Thorpe.

He has slammed the move in a letter to the iconic market’s owners as a “disgrace”.

He said: “Your ill thought-through proposals threaten to kill off the market entirely, leaving a huge hole in our town centre and having a much wider impact than you perhaps appreciate,” Cllr Thorpe wrote in the letter to site owner Greenwich Hospital Estates.

The Greenwich leader acknowledged the impact of the Covid-19 lockdown on the site owners, but said “expecting decent, hard-working traders to bear the brunt of a pandemic is frankly a disgrace”.

The letter, which is co-signed by council deputy leader Denise Scott-McDonald, states the market is “an attraction that draws visitors from across the world,” with a value to the local economy estimated to be £25 million per annum.

Cllr Thorpe invited those behind the move to an “urgent meeting” to discuss the proposals and asked for the proposals to be suspended beforehand.

Greenwich Hospital Estates, a charity founded in 1694 to support serving and retired Royal Navy personnel and their families, has run the historic market since 1849.

Global property management firm Knight Frank, which manages the site and its stallholders on the charity’s behalf, said “the sustainability of income is crucial” in order to meet Greenwich Hospital’s charitable objectives.

The firm said: “We have worked hard to support shop keepers and stallholders throughout a difficult period, and have done so within government guidelines, including rent concessions and deferments, which have been balanced against Greenwich Hospital’s charitable obligations and the ongoing costs required for the safe running of the market and surrounding shops.”

They added that shop keepers were being reviewed “on a case by case basis” with most having had three to six months’ rent written off.

“Greenwich Market is a very important part of the community and the naval charity’s estate. We will continue to work closely with tenants as the market re-opens,” the firm said.

Pictured top: Greenwich Market