Markets are enjoying a renaissance, filling the retail and socio-economic gaps appearing in our high-streets, transforming them into desirable places to be.
The 50,000 or so registered market-trading businesses populating British markets are short of covenant but long in number. Markets include retailers trading under lease and others under day licenses. Churn is standard and always factored into business plans.
Most of the 468 Councils in the UK own and operate one or more markets in their area. These are delivered as a discretionary service, not a statutory obligation such as education so can be outsourced. They are a high profile operation and enjoy enormous customer loyalty but their management is generally unskilled. They generally lack any business plan or reinvestment which frustrates their development despite their High Street location. Introducing professional asset management creates significant reversionary interest.