The future of the Fremantle Markets, one of WA’s most popular visitor attractions, has been secured following a decision made by the City of Fremantle Council on Wednesday night.
Council voted in favour of adopting a proposed business plan, which recommends granting a new 20-year lease to the current operator, Fremantle Markets Pty Ltd (FMPL).
The decision took into consideration the 387 public submissions received by the City, 88 per cent of which were in favour of the proposed lease as outlined in the business plan.
The City of Fremantle has been working with FMPL since it came to the City three years ago, asking for support to enhance and future-proof the site.
More than $2.2million has been invested in the Fremantle Markets building over the term of the current lease by both the City and FMPL.
As part of the new lease, FMPL will be required to put $3million into priority building upgrades in a time frame agreed to by the City and in line with the City’s transition towards net zero emissions.
City of Fremantle Mayor Hannah Fitzhardinge said the decision gives certainty to stallholders and patrons alike.
“This is a responsible business decision made by Council. As any commercial landlord would know, securing and retaining good tenants is critically important.
There are 157 businesses operating in the Fremantle Markets, equating to approximately 400 jobs.
“The Fremantle Markets is currently the City’s highest performing leased property and generates a significant return on investment for the City.
700,000 people visit the markets every year, with the foot traffic benefiting other retailers and small businesses in the area.
“We have an obligation to the community and the tourism sector to keep this cultural icon thriving for future generations.
“I’m looking forward to some capital investment being put into this much-loved place. It’s something that we’ve been wanting for some time and I’m looking forward to getting on with it,” Mayor Fitzhardinge said.
