Market trader says higher footfall in Peterborough's Bridge Street outdoors market has not led to matching rise in sales

A leading trader says business is better at Peterborough’s new outdoor market – but not as good as he was led to expect ahead of last year’s transfer to the new city centre site.

Fruit and veg trader Steve Wetherill says when business at the new city market in Bridge Street is good, it is 30 to 40 per cent up on the previous site in Northminster.

But he added: “When it’s bad here, it’s terrible.

"Over four years, our rents will increase by three times the current amount. But business here is not three times better than it was – and we can't really put our prices up by that amount.

"I think we will struggle to survive.”

His comments come after new figures from market owners Peterborough City Council show that the move from Northminster to Bridge Street last April has not led to any debt as a result of unpaid rent in the 2022/23 financial year.

Figures released to the Peterborough Telegraph under a Freedom of Information request show that in 2018/19 the total rent from 49 invoices was £294,688 but for the same year there was £29,539 in debt owing due to missed payments.

The following year, 29 invoices raised £153,467.70 but missed payments meant there was £59,600.95 debt.

Income and debt fell slightly the following year (2020/21) with 20 invoices for rent totalling £88,210.90 but with debt accounting for £37,703.50.

In 2021/22, there 17 invoices sent out for a total of £77,806.90. Debt is missed payments for that year was £6,543.10.

By April 2002 the market had moved to Bridge Street, which has 12 kiosks. Eight invoices were sent out for a total of £31,011.34 and there is no debt for that year.

A council spokesperson said: “The City Market had not been profitable in its Northminster location for many years and many traders had debts and were offered payment plans allowing them to pay these off on a month-by-month basis.

“The decision was then made to move the market to its current Bridge Street location, which has far higher footfall.

"The amount of debt accumulated since this move is zero.”

But Mr Wetherill said: “There is more footfall here – we’re in the middle of the city centre so there is going to be more footfall but that doesn’t mean more customers.

"When Posh are playing we get 2,000 people pass here in an hour but they're not buying anything.

"When the weather is good and people have been paid, business is good – it’s about 30 to 40 per cent better.

"But when business is bad, it’s terrible – about 30 to 40 per cent worse

He said: “But business is not three times better than it was and as we were told to expect. I don’t think we will survive this.

He added: “There are five traders in Bridge Street who moved from Northminster. We didn’t have any outstanding payments to the council, so it is not surprising there is no debt.”