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JAN COCHRANE-HARRY Who’s the Boss?: A Discussion of the Benefits and Challenges of Public vs. Private Market Management CEO Queen Victoria Market
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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: [email protected]
