Grim note in Contessa Balmain window shows why Sydney is broken (www.news.com.au)

submitted 2 years ago by Designate6361@beehaw.org to c/australia@aussie.zone

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I don't usually post stuff from rip off news.com but this got me

“Those landlords might prefer to have a space sit empty rather than drop the asking rent, which would impact the value of their asset.”

That's broken af

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[-] Railison@aussie.zone 2 points 2 years ago

Yeah I definitely think about this too. A string of vacant shops is like a cancer to a shopping strip: they just keep growing and growing in number.

OTOH if you lowered the rent temporarily to fill the shops, basically wouldn’t it be a case of a rising tide lifting all boats as you reinvigorate the area?

[-] w2qw@aussie.zone 1 points 2 years ago* (last edited 2 years ago)

Shopping centres might do that or offer other incentives maybe like paying for advertising costs or something. If the shops are owned independently like the article's example then it's a bit harder because they need to cooperate.

this post was submitted on 25 Oct 2023

14 points (100.0% liked)

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