South Melbourne Market is one of Melbourne’s best markets and a cultural gem in the heart of Port Phillip. The market comes to life every weekend and is bustling with visitors yet its running at a loss.
The market should be producing a healthy dividend for ratepayers, or at least be cost neutral. Why then, is Port Phillip Council running the market at a loss? Ratepayers are subsidising the market’s operations.
Is our council fit to run market-based operations if they can’t turn a profit on a successful market like South Melbourne Market? Council has failed to appropriately forecast risks and budget accordingly, leaving us ratepayers on the hook yet again for their poor financial management.
The fact that South Melbourne Market budgeted for a $256,000 loss in 2018-19 is incredible. What is worse, the actual loss turned to be more than double that, at $516,000!
* “With over 5.5 million visitors through our doors each year and a reputation for having some of the best fresh produce and shopping in Melbourne, stall opportunities at the Market are rare and not to be missed.”
(* https://southmelbournemarket.com.au/applications/)
See the current CoPP charges for a stall. And still running at a loss?
We hear stories from traders of the huge rents being charged and yet City of Port Phillip have shown losses over the last 4 years. What is going on? Do rents need to be raised again?
City of Port Phillip is a high spending council and is out of control when compared to our neighbouring councils. Let council know you cannot afford their spending. We want efficiencies built into our services.
We say Residents and Ratepayers shouldn’t be paying other peoples’ rent. Traders should not be charged out of existence. How many Council staff are required to run the market? Can they find efficiencies?
Snap poll – Do you think Residents and Ratepayers should pay for the losses at South Melbourne Market?
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