Durham Market Hall, one of the North East's oldest covered markets, is marking two historic anniversaries this year. The Durham Markets Company, founded in 1851, celebrates its 175th anniversary, while its business partnership with RMT Accountants & Business Advisors reaches 120 years.
A historic market with a sustainable model
The Durham Markets Company was formed in 1851 under an Act of Parliament, allowing it to raise £12,000 in capital. Construction costs for the market totalled £7,500. From the start, the company adopted a commercially strategic approach, using rental income from shops and offices to supplement stallholder fees, creating a financial model that ensured long-term sustainability.
The market originally opened only on Saturdays until 1974, when trading expanded to Fridays. Thursday opening began in 1982, and current six-day trading started in 1996 after a major refurbishment.
40 independent traders and a community hub
Today, the market hall is home to around 40 independent traders, offering a range of goods from high-quality food and drink, a café, homeware, hobbies, crafts, and fashion, to services like phone and watch repairs, tattoos, piercings, and hairdressing. It also houses a Market Tavern pub, the Spice Lounge Indian restaurant, and a nightclub in its vaults.
The company works with local partners such as Durham University and the Durham Business Improvement District (BID) to boost community engagement through a calendar of events. It has also served as a launchpad for many new businesses and actively supports young entrepreneurs through its Young Traders' market.
Enduring partnership with RMT Accountants
For 120 years, the Durham office of RMT Accountants & Business Advisors and its predecessor firms have supported the market's operations. Since 1906, a senior team member has served as company secretary or director of the market. Durham-based director David Holloway has been on the board for the last four years, working closely with management on financial operations and long-term development.
Richard Brass, director at the Durham Markets Company, said: “Durham Market Hall has always been a place where people come not just to shop, but to meet, connect and be part of something bigger. From its Victorian beginnings to the bustling independent market we know today, it has continually evolved while holding on to the character and community spirit that make it so special.”
He added: “The advice we’ve had from RMT and all its predecessors down the decades has played a central role in the company’s enduring success and its different stages of development, and 120 years on from the beginning of our relationship, it’s just as important as it always was.”
David Holloway said: “Having a professional relationship with such an iconic Durham business for such a great long time is a unique accomplishment. We’re proud to have played such an enduring role in the Durham Markets Company’s success and to be part of the next stages of its continuing development.”
