Old Bus Depot Markets sold to local enterprise

Canberra’s Old Bus Depot Markets has changed hands for the first time in more than two decades.

It was sold to new venture, Iconic Markets and Events, who intend to retain the market’s focus on hand-crafted, Australian-made products.

Diana Hinds and Morna Whiting, who have owned the Kingston markets for 21 years, played a large role in selecting an owner who would be a good fit for the business.

Iconic Markets and Events is headed by managing director Anthony Niravong, a Canberra local with more than 20 years’ experience in hospitality and retail.

He said the company would preserve the market’s vision, however he wants to give extra support to stallholders.

“It was a great opportunity that came up on our radar,” Mr Niravong said.

“We believe it’s a well-established business and a beautiful thing that Diana and Morna have developed. It’s a platform where small business can grow, evolve and take off from.”

Mr Niravong has lived in Canberra since 2004 and is the silent owner of a Canberra Centre eatery. He also runs two grocery stores; one at the ANU and one in Gungahlin.

The ACT government owns the Old Bus Depot complex and will continue on as the landlord of the markets.

The impact on the stallholders will be kept to a minimum, with fees, existing staff and the current business model to remain the same.

“We want to continue the heritage that comes with the Old Bus Depot Markets, but we want to provide more support for growing businesses,” Mr Niravong said.

Mr Niravong is a committee member of the CBR Innovation Network, a group with committed to guiding local businesses and entrepreneurs.

He said he will bring these values with him to the Old Bus Depot Markets.

“We want to make business easier, simplify the way people do business and cut the red tape,” Mr Niravong said.

“In the coming months there are plans to make things easier and more streamlined for stallholders. For example, we’ll be implementing EFTPOS facilities for people so things are a little bit easier.

“We want to bring about some modern changes to the old process, but we’re very much trying to keep to the core and the heritage of the business, which is supporting small businesses and Australian-made, quality products.”

The new ownership will take effect immediately, however Ms Hinds and Ms Whiting said they will be at the markets for at least next month and will continue to offer their advice during course of the transition.

“We are truly blessed to have built up Canberra’s favourite Sunday markets, to show off the talents of many local and regional craftspeople and foodies each week for 21 years, and for the many beautiful friendships we’ve made along the way,” Ms Whiting said.