Ready to Trade?

Chester Market has begun an exciting new chapter in its history with a move to a new purpose-built market hall at the heart of the Northgate development. The vision driving the new market is to be a ‘modern traditional market’ that takes the best of the new breed of thriving city produce markets such as Borough Market in London, Barcelona market, combined with communal foodhall markets such as Altrincham and Liverpool’s Baltic.

If you would like to trade at Chester Market, please get in touch and tell us more about your proposed stall.

 

 

The Bean & Cole Team

Introduction

There has been a market in Chester for well over 800 years; in order to survive it has evolved and changed location but never lost its role as a well-loved asset of the city, now based in the Forum since the late sixties.

 

Never more so in the past couple of years, when following a national downturn in the popularity of markets, a decline in foot-fall at the Forum shopping centre and other factors such as the relocation of the bus interchange; meant that by 2017 the market was running at 35% occupancy and many traders reported a downturn in takings of 20-80%, with some on the brink of closure.

 

However, following a concerted strategy of council investment and marketing totalling almost £400,000 – including rent incentives, parking discounts, new food and drink stalls, website and evening opening – all contributed to renew trader confidence and the market was rejuvenated.

 

This turnaround was recognised by winning the 2020 Great British Markets award for best small indoor market with over 1million visitors in 2019 and a waiting list for market stalls.

 

2020 presented us with a whole new set of challenges but the pandemic brought the best out of everyone involved in the market – traders stepped up to serve the community offering new ways to collaborate with one another and go the extra mile to offer deliveries and ensure everyone could be served whether in person or remotely. Market staff set up a new Al Fresco eating area which enabled the popular Foodie Fridays and late opening on Saturdays to continue when permitted.

 

Here are a few reminders why Chester Market should be the top location to grow your business:

 

Chester is the No.1 Vitality retail destination in the North West, and within the top twenty nationally

HDH Vitality Ranking 2020

 

Chester is the third best place to live in the 2020 UK Hot Housing Index, and top in the North West.

Source: Property Week/CACI

 

Chester West and Chester has over 35 million day visitors and 1.5 million staying visitors

Source: STEAM Annual Report for 2018 (Global Solutions UK)

 

1.3 million people live within a 30-minute drive of Chester

Source: Census 2011

 

We have a growing £30 billion Cheshire regional economy

Source: Cheshire & Warrington LEP

 

Chester has been crowned City of the Year in the 2020/21 Staycation Awards

Source: i Newspaper

The Future

In 2019 the council committed to developing a new market as part of the £70m Northgate development in the city centre and a new market hall will open in early 2022, alongside a new cinema, public square, car park; a short walk from its current home and adjacent to Storyhouse.

We have massive ambitions for the new market; to build on its recent success and deliver a significant step-change in environment, choice and experience. It will establish a new benchmark for city centre markets, blending traditional character, range and value alongside innovative new approaches.

Our Vision

The people of Chester have shared with us what matters to them about a market. We have held extensive consultation events which have informed the Chester Market Vision & Manifesto. We have set high standards for traders, event organisers and our staff to deliver the best market possible. The vision driving the new market is to be a ‘modern traditional market.’

From nutrition to sustainability, creativity to inclusivity we can’t wait to share the good times ahead and we want only the best traders who share our ambitions to be part of the new market. It establishes the principles, quality and pricing standards and environmental imperatives for users of the market and the way the market is managed.

We need traders to sign-up to our Market Manifesto, and demonstrate how they will play their part and work with us in partnership to deliver its key principles:

Good for the Planet

Good for Chester

Good for Gatherings

Good for Good Food

Good for the Community

Good for Business

See more at: https://newchester.market/all-good

FAQs

How are trader applications evaluated?

Traders are asked to complete an application form and provide evidence of their trading history or provide an optional business plan. Each application is scored against a wide set of criteria which included their experience, marketing strategy and business viability; in order that the process could be as fair and equitable as possible.  All information provided is treated in strict confidence; we needed this information to ensure that each business within the new market will have a strong chance of being successful. Lots of thriving businesses together will make the overall market stronger, as each successful business will bring their own customer base and add to the overall trader mix.

 

Why did some existing traders not apply?

All existing traders in the old market were encouraged to apply, and although a number of existing traders did not apply, some have taken the opportunity to use the market as a springboard to opening their own high-street premises or consolidate into more direct to customer businesses, whilst a small number have elected to retire rather than move to the new market. Each trader was given the opportunity to discuss their individual options with us to help them decide if applying for a place in the new market was the right decision for their business.

 

Were traders supported to make an application?

Yes, as a result of feedback from traders we simplified the application process, gave traders the opportunity to select their stall location and make a bid for their preferred rental charge, plus we extended the closing date by two weeks to allow for more time to submit and answered many clarification questions. We also provided two free workshops delivered by the Chamber of Commerce to help traders develop their application and offer impartial advice on financial, marketing and legal issues.

 

Who was on the evaluation panel for trader applications at the new market?

There were both local and non-local members of the panel with ample knowledge of the current market; the evaluation panel was made up of the Council’s Markets Team and external advisers – some with nationally recognised expertise in developing markets as well as local business representation. The Council is obliged by law to achieve best value in all its property transactions and this process ensured that it could meet this obligation.

 

Were new traders given priority over existing traders?

No, all existing traders and prospective traders were given equal opportunity to gain a place in the new market. We aim to attract the best mix of traders and therefore developed a fair and consistent process that applied to both existing and new traders.

 

Were existing traders be given any recognition for their contribution to the success of the current market?

Yes, the evaluation took into account existing traders’ previous experience and track record; and their application was looked at more favourably than an identical one that has not traded in Chester Market. However, we recommended that existing traders took the opportunity to re-evaluate their current business model as part of the application process and set their aspirations and objectives in line with our ambitious plans for the new market.

 

Why was a central bar rather than a number of individual traders selling alcohol decided upon?

The central bar will not be run by the council but by an experienced independent bar operator. The bar operator will also provide the front of house service (cleaning tables, washing up etc.) for all food and beverage traders, this will provide a consistent and more efficient way to manage this service. Although the central bar provides the vast majority of alcohol sales, there is scope for some traders to sell specialist alcoholic drinks if they complement their food offer. All food traders can sell soft drinks if they wish.

 

Why were existing traders asked to apply for places in the new market?

Chester Market is beginning an exciting new chapter in its history with a move to a new purpose-built market hall at the heart of the Northgate development. As a result, we want to attract the best mix of traders and provide a fair and consistent process that will apply to both existing and new traders.

 

How will further places be filled in the new market?

We will look at targeting our recruitment at filling gaps in the range of traders already selected. It is critical that the council get the tenant mix right in order to deliver a modern, traditional market.

 

Rental terms are different than in the old market and rents are higher – why?

This is a unique opportunity and like nothing else currently available in Chester. The rental terms at the old market changed little since they were set by the former Chester City Council many years ago. Traders paid only approx. 50% of the cost of running the old market and have enjoyed some of the lowest rental levels in the UK. Rents are therefore heavily subsidised by the Council and whilst we were able to do that in the past, our financial position means that we can no longer retain this subsidy. The new rent is also comparable against similar markets in other cities across the country and is in the middle of that range, to reflect the step-change in environment and facilities the new market will provide.

 

Food and beverage traders now pay a percentage of the turnover as a rent which increasingly is a model that works in markets and high streets across the UK. This means that traders do not have the barrier of high fixed costs and both the trader and the Council benefits if the overall market is a success. This approach also shares the rental cost and risk between the trader and the council.

 

How will the new market be different to the old market?

The new market will have a strong food and drink offer with approx. 35% food and beverage stalls alongside produce, general merchandise and service traders to create a modern traditional market. We have massive ambitions for the new market; to build on its recent success and deliver a significant step-change in environment, choice and experience. It will establish a new benchmark for city centre markets, blending traditional character, range and value alongside innovative new approaches. There will be a stage and screen to host events, demonstrations and other community activities.

 

How will you ensure the new market will provide affordable goods and services?

The Council has no role in setting what traders decide to charge for their goods and services. When reviewing applications, we evaluated traders’ viability based on their business plan and other criteria as per the scoring matrix. Nevertheless, we aim to select a range of traders that can provide an optimum mix of produce, food, drink and services at a range of price points and for all tastes – as per the current market and as set out in our manifesto for the new market.