According to a performance report released by Doncaster Council, Mexborough Market, which came under private ownership in 2019, experienced a significant decline in occupancy rates.
The report revealed that out of the 40 trading units at the market, 14 were vacant at the end of 2022, resulting in a worrying 63 percent occupancy rate.
Prior to the transition to private ownership, Mexborough Market boasted a commendable 95 percent occupancy rate.
However, since Market Asset Management (MAM) took over, the market has struggled to maintain its previous success.
In contrast, Doncaster Market, also under MAM’s ownership, witnessed a slight improvement in occupancy rates, rising from 77 to 85 percent over the same time period.
Although Doncaster Market experienced a temporary drop in the third quarter, falling to 90 percent occupancy, it managed to recover and maintain an upward trend. The overall figures for Doncaster Market include various sections such as the Wool Market, the food hall, and the fish market. Notably, the figures exclude the Corn Exchange, which is currently undergoing a full renovation project.
In 2020, Doncaster Council provided a bailout of £910,000 to MAM to compensate for the financial losses incurred due to the COVID-19 pandemic.
While specific revenue data for the markets is not publicly available, MAM reported to its staff that footfall is increasing, leading to projected profits.
Earlier this year, MAM faced criticism from market staff as it imposed rent increases on traders.
Traders were given the option to accept a gradual rent increase of up to 20 percent of their turnover or face termination of their contracts.
This decision was supported by Doncaster Council.
Overall, the decline in occupancy rates at Mexborough Market serves as a concerning development, casting doubt on the effectiveness of private ownership and raising questions about the future stability of the market under MAM’s management.
Simon Young started working for City of Doncaster News in 2022. Simon grew up in Scawthorpe and always had a fascination with ‘City Life’. He always thought he would have to move away to experience that, but that’s no longer the case.
