Melbourne Market Authority signs new lease agreements with all 17 end-of-term tenants ending rent review process
The Melbourne Market Authority (MMA) has announced all 17 store tenants that reached the end of their nine-year lease term and were subject to a market rent review have now signed new lease agreements.
The MMA said these agreements mark the conclusion of a long-standing rent review process which first erupted in October 2024 and sparked protests from the market’s wholesalers.
This resolution follows months of engagement between the MMA, tenants and their representative body, Fresh State, which included a formal valuation process to ensure transparency, fairness, and alignment with current market conditions.
Peter Tuohey, Chair of the MMA, said the MMA is very pleased to have reached this point, with all tenants choosing to sign the new leases and remain at the Melbourne Market.
“We’re pleased to have reached a resolution that provides our tenants with clarity about their future at the Market,” said Tuohey.
“We know it’s been a challenging period, but this outcome provides stability and certainty and allows the market to focus on what it does best, getting the freshest fruit and vegetables out to Victorians.”
According to the MMA, the revised rent reflects current market valuations assessed by the Valuer-General and is tailored to individual store size and location, with premises valued at approximately A$35,600 to A$121,600 (excluding GST) per annum. The signed leases contain a base rent adjustment of +23-38 per cent distributed evenly across the nine-year lease term to support affordability and long-term tenancy stability.
The MMA made several amendments to support tenants throughout this process, including reduced bond, electricity savings and waiving back payments of increased rent between 31 August 2024 and 24 February 2025.
“We’ve taken a practical approach throughout this process and worked to find a fair balance between ensuring the market remains financially sustainable and supporting our tenants,” Tuohey said.
The MMA said the resolution establishes a consistent benchmark ahead of a lease renewal process in August 2025, which will cover approximately 100 additional tenancies.
With this process completed the MMA said its focus remains on maintaining a thriving market environment where businesses can grow and succeed, while continuing to manage the site in line with community and commercial expectations.
