SINGAPORE – When she was a psychology student at the University of Melbourne, Ms Vernetta Fong would frequent farmers’ markets and cafes, dreaming of the day she would open a cafe of her own.

Her dream came true last month when she opened a small cafe at the new Margaret Market in Queenstown. Called Urban Folks, it sells DIY acai bowls and “jaffles” (Australian-inspired toasted sandwiches).

Said the 28-year-old: “During the tendering process (for Margaret Market), when they shared the farmers’ market concept, I was so excited to be part of it.”

Business has been better than expected, with a lunch crowd on weekdays and people coming from the nearby church on weekends, she added.

The new Margaret Market – a revamped two-storey modern space with food, produce, and fitness and health services – officially opened on Tuesday.

Its distinctive barrel-roofed building is part of the former Commonwealth Avenue Wet Market and Food Centre that was built in 1956 and opened in 1960.

The market, the only remaining one built by the Singapore Improvement Trust, was gazetted for conservation by the Urban Redevelopment Authority in 2014.

Margaret Market, which is located next to Margaret Drive Hawker Centre and a five-minute walk from Queenstown MRT station, supports local small businesses and first-time vendors by renting out shop spaces to them.