Ridley Road Market Traders Face Uncertain Future as Eviction Deadline Looms
Traders at the legendary Ridley Road Market in East London are confronting a bleak outlook as they prepare to vacate the indoor Shopping Village by March 31. The offshore private developer, Larochette Real Estate, insists this is a temporary closure for refurbishments, with plans to reopen as early as June. However, market sellers and campaigners are deeply sceptical, viewing this as the latest chapter in a prolonged struggle against gentrification that threatens their decades-old businesses.
Decades of Struggle Against Redevelopment Pressures
Larochette acquired the Ridley Road indoor market in 2016, and by October 2018, attempted to evict traders to demolish the building for luxury flats and offices. At that time, shopkeepers received 14-day eviction notices, but local solicitor Bill Parry-Davies negotiated new three-year leases in 2019. That same year, Hackney Council designated the building as an Asset of Community Value, offering partial protection from full redevelopment due to its community benefits.
Despite these efforts, tensions have persisted between traders and Larochette Director Guy Ziser. In recent years, approximately 60 artists occupying the upper floors were evicted to facilitate refurbishments. A significant development occurred in 2022 when the council agreed to a 15-year lease takeover, conditional on refurbishment completion. However, this deal has lapsed because the refurbishment was never fully finished, with only half of the ground floor completed by March 2025.
Traders Express Exhaustion and Distrust
Many of the 17 sellers, some with businesses spanning decades, feel this eviction represents the final blow in their fight against gentrification. Ladieswear trader Asli Uygur voiced her despair, stating, "I feel so exhausted. I don't even have the energy to fight again." After the partial refurbishment, all ground-floor traders signed new 12-month leases, but these lacked security of tenure and included provisions for no-fault evictions, as dictated by the council.
Bill Parry-Davies highlighted the situation as a classic example of gentrification, noting that the council adopted a "commercial landlord's position" in the 2022 lease agreement. This has left traders vulnerable and uncertain about their future.
Landlord's Stance and Community Backlash
In a statement to the Local Democracy Reporting Service, Larochette denied evicting traders, explaining that leases are not being renewed to "draw a clear line under historic challenges." The company asserted that businesses not involved in antisocial behaviour or significant rent arrears would be offered temporary accommodation or outdoor pitches until the market reopens. However, traders and police have challenged this narrative.
Police rejected Larochette's claim that they ordered the site's closure, clarifying that their warning over antisocial behaviour was the "lowest form of enforcement." Trader Peter Dissi, who runs Lion Paw records, argued that the landlord is collectively punishing all traders instead of targeting specific contract breaches. He expressed hope for a "good working relationship" but warned of "absolute devastation" for the local community if promises are broken.
Political and Campaign Responses
At a recent meeting involving council officials, Hackney Mayor Caroline Woodley, traders, and supporters, Mr Ziser suggested traders could return by June. Mayor Woodley pledged to hold Larochette accountable, stating, "I will do everything I can to hold Larochette to that promise, and continue to offer any support we can to those who face uncertainty in the meantime."
Meanwhile, the Save Ridley Road campaign continues to organise, with some activists considering an "eviction resistance" when leases expire on March 31. The community remains mobilised to protect this iconic market, reflecting broader concerns about gentrification and displacement in East London.
