Our Queen in crisis: traders, residents sound alarm on QVM’s future

At a recent Residents 3000 forum, the voices of market traders rang clear.

In story after story, traders described a tightening squeeze – rents remain high, customer traffic is falling, and now Queen Victoria Market Pty Ltd (QVM Pty Ltd), the management entity, is introducing additional utility and waste disposal charges, claiming operational costs have risen.

But to traders and long-time market supporters, that is not the full story.

“We’ve combed through the numbers,” Friends of Queen Victoria Market Inc. president Mary-Lou Howie said.

“Rental income has fallen. Foot traffic is down. But wages and consultant spending are up. We’re seeing a top-heavy management structure and consultants making decisions far removed from the realities of the market floor. Now they want the traders to foot the bill?”

Mary-Lou doesn’t mince words when it comes to what’s at stake.

“If this continues, we’re not just losing businesses – we’re losing a cultural institution. The market doesn’t need more glossy brochures. It needs structural support. It needs leadership with a long-term vision rooted in heritage, not short-term real estate thinking.”

Behind the scenes, the City of Melbourne grants have helped keep QVM Pty Ltd afloat. But those grants are due to cease mid-2025. Without them, and without meaningful reform, the current model is financially unsustainable.

Fahna Ammett, an employee in the fruit and vegetable sheds puts it plainly: “Every time we look up, there’s a new consultant. Every time we look down, there’s fewer customers. We’re not against change – but this isn’t change. It’s abandonment.”

The sense of neglect runs deep. Not just among traders, but local residents who rely on the market as a source of affordable food and social connection.

“The business case and the traffic plans that this renewal project is based on are fundamentally flawed,” local resident and community advocate David Legge said.

“Regardless of the economics, the Queen Victoria Market is part of our urban social infrastructure.

“It’s about food security, about affordability for key workers, about liveability. You don’t defund the city’s soul because the spreadsheets say so.”

Many now fear that the Gurrowa Place development, framed by the council as a visionary reimagining of the market precinct, is in fact a Trojan horse – one that may prioritise other commercial interests at the expense of QVM’s capacity to operate its day-to-day operations and at the expense of its core values:

• independent traders,
• community access, and
• the preservation of its state and Commonwealth protected heritage values, such as the old buildings and the continuous provision of fresh produce to the people of Melbourne over 147 years.
  

Bob Evans, local resident and advocate for improved urban planning in the QVM precinct, believes the costly QVM precinct renewal program has caused enormous disruption to the market’s operation.

“There has been no genuine consultation with stall holders. Their feedback and advice has been ignored by QVM management. Where there should be cooperation, there is intimidation and coercion,” Mr Evans said.

Economic rationalism applied to cultural assets is a failed model. If Melbourne City Council continues to treat the market as a cash cow, traders will be milked dry and customers will be left to go elsewhere.

“The market doesn’t need subsidies – it needs a fair go with an accountable board and streamlined management team prepared to work collaboratively with the market traders and properly value the QVM’s cultural, social, economic, and symbolic significance.”

To that end, traders and residents are calling for a Community Advisory Committee – an independent body with access to internal financials and a remit to bring together experts in areas such as heritage, markets, cultural tourism, urban food planning, social infrastructure, logistics and urban economic policy.

“It’s not just about saving the market,” Mary-Lou added. “It’s about reframing the thinking. The City of Melbourne has strategies for affordability, housing, food security, and tourism – but they’re ignoring one of their most effective tools for delivering on those strategies. That’s the market.”

If no changes are made, traders warn that a market-wide protest closure may be their only remaining option. It’s not a step they want to take, but many feel they have no choice.

“The fresh produce market is on life support. We’re fighting for survival,” Fahna said. “And for the future of an iconic market that belongs to all Melburnians.”

Please visit our website residents3000.org.au for details about our monthly events, and to subscribe to our email newsletters and follow us on social media.

Richard Grace is a Residents 3000 committee member •