Bristol's St Nicholas Market traders could soon have to pay council 15% of their turnover

St Nicholas Market, located in Bristol's Old City, attracted nearly four million visitors last year. Credit: ITV News

Food and drink sellers at Bristol's St Nick's Market might have to pay the council 15% of their turnover, according to proposed plans.

In a new Bristol City Council report looks at increasing fees paid by food and drink traders in the Glass Arcade section of the popular city centre market.

The report says an increase will help pay for better infrastructure and more night markets.

The market is made up of 63 independent traders, with a further 50 traders in outdoor markets on Corn Street and Wine Street.

The council report says: "The Glass Arcade has the lowest fees but this is the most lucrative element of the market, with 75% of the 3.7 million visits in 2023. It is not reasonable for the most profitable element of the market to be charged the least.

"There is scope to invest in the market to provide better infrastructure for the current traders, through operational improvements and more effective emergency repairs. It may also be possible to put on events and night markets. However, this will require additional investment which is not justifiable when income targets are not being achieved."

St. Nicholas Market dates back to 1743 and is home to a wide range of food traders, arts and crafts stalls and clothing sellers. Credit: ITV News

The council says around half of the traders at the market have been there for more than 10 years, and there is a waiting list of 21 food stalls and 13 retail traders hoping to get a spot.

According to the council report, higher fees for traders could bring in new businesses.

It says: “It appears that the current low fees are resulting in a low turnover of businesses within the market.

"Ensuring there are regular opportunities for new traders to take up, create and grow new market businesses is important to ensure a mixed and changing offer, encouraging customers to return again and again.”

The current weekly fees for traders at St Nicholas Market ranges from £123.93 for food and drink sellers in the Glass Arcade, to £177.16 for businesses in the Exchange Hall.

The council expects to make £646,000 in income this year from market traders - lower than its target of £746,000.

Now the council is exploring different types of fee hikes, with options including a flat percentage increase to all fees or a 15% fee for only food and drink traders.

Plans to increase the fees will be discussed at a council meeting on Monday 9 December. The council plan to consult traders for six weeks about proposals before making any final decisions.