JAN COCHRANE-HARRY

Who’s the Boss?: A Discussion of the Benefits and Challenges of

Public vs. Private Market Management

CEO Queen Victoria Market

Who’s the Boss? A discussion on the benefits and challenges of public vs private market management

28 March 2015 Jan Cochrane-Harry Chief Executive

Queen Victoria Market, Melbourne Australia

Queen Victoria Market, Melbourne Australia

Queen Victoria Market, Melbourne Australia

History of Queen Victoria Market

Summary of Draft Master Plan, March 2015

Queen Victoria Market 1950s

Queen Victoria Market 1950s

Changes to governance and management in 1996- 1997

QVM Pty Ltd

Council

Traders

capital

opex

rent

Council

Traders

capital rent

Land & Buildings Land & Buildings

opex

return

QVM Pty Ltd

Council

Traders

capital

opex

rent

Council

Traders

capital rent

Land & Buildings Land & Buildings

opex

return

Advisory Committee

Pre 1997 Post 1997

Queen Victoria Market Advisory Committee

10 Traders representing over 700 businesses.

Terms of reference include giving advice on:

•  Advertising and promotions •  Trading hours •  Cleaning, maintenance etc,

specifically excludes any involvement in rents setting or lease/contractual matters.

Fast Facts – about Queen Victoria Market

Fast Facts

•  +700 traders •  8 – 10 Million customers / visitors •  2/3 local & 1/3 visitors •  7 - 8 hectare site •  A$23M annual revenue •  A$5 M return to Council

“The City of Melbourne will make the largest investment in its history to preserve and renew the Queen Victoria Market…Investing now will ensure that the Queen Victoria Market is part of our city forever…” Lord Mayor of Melbourne, Robert Doyle Media release 31 October 2013

Queen Victoria Market: RENEWAL Governance Structure

Melbourne City Council

Steering Committee & Project Executive

Trader Reps QVMAC

QVM Pty Ltd & Management

Customers

3 City Councillors 3 QVM Directors City Planning &

Design

Heritage Indigenous Traders Traders Traders

Queen Victoria Market Precinct Renewal

Major period of change … decision making critical

Strategic Brief, February 2015 Draft Master Plan, March 2015

•  The right VENDORS •  The right LOCATION •  The right MIX •  The right MISSION •  The right PUBLIC SPACES •  The right CONNECTIONS •  The right ECONOMICS •  The right PROMOTION •  The right VALUE •  The right MANAGEMENT

BENEFITS of ‘QVM Partnership model

A

Council - top priority project Directors - experience & strategic expertise Management - focussed and committed Traders - passionate and committed

CHALLENGES of ‘QVM Partnership model

A

Council - political Directors - accountable Management - workload of transformation Traders - influence & survival

COUNCIL

BOARD MANAGEMENT

TRADER GROUP

Who’s the Boss?

COUNCIL

BOARD MANAGEMENT

TRADER GROUP

Who’s the Boss?

Queen Victoria Market, Melbourne Australia

Queen Victoria Market Melbourne Australia

Thank you

For further information: qvm.com.au participate.melbourne.vic.gov.au Email: jan.cochrane-harry@qvm.com.au