Traders Remain Divided Over Plans for Market
Some concerned that proposed changes will make it 'less traditional'
Nazareth, owner of the cafè Delina
December 2, 2023
Traders working at a 109-year-old market have voiced concerns about a potential major redevelopment of the site – though others see it as an opportunity to ensure it moves with the times. Plans to redevelop Shepherd’s Bush Market are due to go before Hammersmith and Fulham Council next week, with a green light paving the way for a serious reimagining of the area.
The proposed works, submitted by real estate investment company Yoo Capital, aim to reconfigure the market and the former Old Laundry Yard to include new stalls and shops, an eight-storey office building, and up to 40 homes. A host of improvements are also intended for the public realm, such as new entrance signs at Goldhawk Road and Uxbridge Road and work on the arches.
Prior to Yoo Capital’s purchase of the market in 2020, the site was subject to plans involving more than 200 homes and additional market stalls, though the scheme expired following a judicial review in 2016.
When the Local Democracy Reporting Service (LDRS) visited the site, several traders spoke of their concerns about the market becoming less ‘traditional’ if the council approves Yoo Capital’s proposal, and that it would shift towards hosting restaurants and higher-end stores.
One trader, who wished to remain anonymous, said she is “not happy” about the process nor the vision for the market. “We are in this market for more than 45 years, and what it is, the market should be like a market, not a high street. They want to make it into restaurants and they want to dispose of all these traders,” she said.
Shepherd's Bush Market
The trader added she is concerned that, if businesses such as hers are moved out, loyal customers will suffer. “A few people, they meet us for the last 45 years, they come as a family. If they don’t see us, what is their feeling?”
The Save Shepherd’s Bush Market campaign group is among those to have raised concerns, in particular relating to potential rent increases for traders. Planning documents detail how, while a package of financial support will be provided to traders, including the pausing of rent payments during construction and freezing at 2015 levels until 2031, there will then be a shift to ‘open market rent’. This, the campaign group claims, will mean rents will likely be hiked, pushing some out of business. A letter calling for a rent cap has been submitted by more than 30 traders, due to concerns about the potential increase.
While largely in-favour of the redevelopment plans, Nazareth, 44, owner of the cafe Delina, said a rent hike is what worries her most. “My concern is the increase of the rent in the current economic unbalance,” she said. “It’s hard. That’s my concern.”
Andrew Thorpe, Managing Director at Yoo Capital, told the LDRS the new leases are necessary, partially due to the current agreements varying greatly between traders, many of which are out of date.
“The new leases provide traders with the same protections as their existing leases,” he said. “The majority of traders’ leases currently go to open market rent when they are renewed, however as the landlord we are simply delaying this process until approximately 2031 so that traders remain on the rents they have had since 2015.”
On maintaining the traditions of the market, Mr Thorpe added, “The market has a wonderful history and serves an important social purpose. We believe it is crucial for owners to invest into the long-term sustainability of these special places and we will do everything we can to ensure the integrity, character and culture of the Market and its traders remains.’’
While Yoo Capital’s proposals have drawn varying concerns from those operating in the market, there is also significant support among the traders. Peter Wheeler, chair of the Shepherd’s Bush Market Tenants Association, said, “Shepherd’s Bush market has been on a downward spiral for many years with both trade and footfall continuing to deteriorate. The traders in the market have not had a rent increase since 2015, many since 2008, and yet the vast majority are in favour of the development. So far, the most common question we are asked has been ‘when’s it going to start?’.”
Surjeet Duggal, owner of British Lingerie who has been in the market since 1984, is among those who said they are backing Yoo Capital’s plans.
“[I’m] generally in favour,” he said. “It will be good for everybody, because times have changed. We can’t stick to the old thinking. It’s gone and done, that’s life, and hopefully the market should be better.”
Mr Duggal however did add that the market’s traditional ethos should be maintained if the redevelopment is approved. “If you go for a modern look, there are so many malls. Why would you want to go to the market?”
Surjeet Duggal, owner of British Lingerie, backs Yoo Capital's plans
Nazareth meanwhile said she supports the plans “because the market needs to be developed, updated with lots of security and cleanliness”.
She added she has been updated by Yoo Capital about its plans “since day one”, and attended many of the meetings and consultations held. For her, the key word is “balance…keeping the original Shepherd’s Bush Market, but it just needs a few things to be done”.
Hassan, 26, who works for his family business running Strawberry Hill Fruiterers and Medina Butcher, also praised the engagement from Yoo Capital, describing it as “above and beyond”. “It’s a shared vision. When we were approached, they were like ‘what would you like?’” he said.
While initially concerned about rent increases, Hassan said that, after meeting with Yoo Capital and hearing how it intends on approaching the traders’ leases, he felt more positive about the company’s motivations.
“It’s a case of saying if you are going to put all this money in, you are going to get a return,” he said. “I don’t think it’s a threat anymore.”
Mr Thorpe, from Yoo Capital, said, “We are pleased that after three years of conversations and consultation with traders and the community, our application for Shepherd’s Bush Market, 40 new affordable homes and a commercial building with a life sciences incubator operated by Imperial College London will be heard at Committee on December 5.
“We have created a financial package worth approximately £5.5million for traders to support them through the construction process for the Market. This includes a rent freeze until 2031, no rent or service charge or business rates charges, during construction, either a brand-new unit or £10,000 to invest in their unit, a financial sum for those staying to trade or a monthly payment for those taking a sabbatical during construction. We have also set up a free ‘Market Academy’ that offers training and practical support for new, existing and aspiring traders.”
Council officers have recommended Yoo Capital’s plans be approved, alongside conditions including limiting the number of homes. A decision is due to be made at the council’s Planning and Development Control Committee next Tuesday (5 December). If granted, the application must then be given the go-ahead by Mayor Sadiq Khan before it can proceed.
Ben Lynch - Local Democracy Reporter
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