Just got back from Subiaco Crossways Mall (Farmer Jacks, wine shop, Japanese shop, many more.) 18 months ago it used to be booming. Pictures from 12.45pm Sunday. Ghost town. And this is the Sunday before Australia Day. You know, when people stock up. All these shops paying pallets of money in rent. Not sure this looks good. The only person in the photo is my assistant...
Just got back from Subiaco Crossways Mall (Farmer Jacks, wine shop, Japanese shop, many more.) 18 months ago it used to be booming. Pictures from 12.45pm Sunday. Ghost town. And this is the Sunday before Australia Day. You know, when people stock up. All these shops paying pallets of money in rent. Not sure this looks good. The only person in the photo is my assistant...
You have a very good eye for assistants.
Yes the truth has not come out yet, the damage is being palliated.
i just got back from a drive, looked at some properties, just shook my head and said no way.
Some deals look cheap but the area i looked at even at 50% is still to dear, these people are sleep walking off a cliff.
Yes the truth has not come out yet, the damage is being palliated.
i just got back from a drive, looked at some properties, just shook my head and said no way.
Some deals look cheap but the area i looked at even at 50% is still to dear, these people are sleep walking off a cliff.
I have an uncontrollable yen for all things Asian female... I saw a lot of this in Japan last decade too. People start the shop of their dreams and it becomes their nightmare. Slowly draining their life balances into the red but they feel they MUST go on. The fallacy of sunk labour lost applies, I suppose. A big problem is that property slowly accumulated over decades into the hands of a few people who could afford to have 10-20% of their properties empty due to owning so much. So they kept the rents high and destroyed business after business.
I read somewhere that 80% of businesses in Subiaco don't last 5 years. Not sure how true that is. A lot are probably just vanity startups of wealthy, idle housewives but that doesn't help the economy. If I was to rent a shop, my first question would be how many tenants have rented in the last 10 years. I don't see rents there dropping much due to the snob factor. Instead it might become like East Perth. To Let, To Let, To Let, on and one down the main streets.
I daren't even go into West Perth. The stories are grim..
Just got back from Subiaco Crossways Mall (Farmer Jacks, wine shop, Japanese shop, many more.) 18 months ago it used to be booming. Pictures from 12.45pm Sunday. Ghost town. And this is the Sunday before Australia Day. You know, when people stock up. All these shops paying pallets of money in rent. Not sure this looks good. The only person in the photo is my assistant...
Why would anyone be in a tiny mall on a sunday, isn't most stuff closed in perth on sunday anyway?
Why would anyone be in a tiny mall on a sunday, isn't most stuff closed in perth on sunday anyway?
Well I guess everyone changed their minds then. Coz it used to be bustling. This is in the heart of Snobiaco. Remember, at this time of day you get warnings not to be more than 10 minutes in the sun or you'll get cancer. So indoor shopping is about all there is. There's a whole second floor to this complex too. Deserted. But tht doesn't stop the rent being charged, does it? Those dollars keep a-tickin'. Eventually you run out of tenants and the landlord has to switch from Champagne Krug Clos du Mesnil Blanc de Blancs down to something he can spell.
Well I guess everyone changed their minds then. Coz it used to be bustling. This is in the heart of Snobiaco. Remember, at this time of day you get warnings not to be more than 10 minutes in the sun or you'll get cancer. So indoor shopping is about all there is. There's a whole second floor to this complex too. Deserted. But tht doesn't stop the rent being charged, does it? Those dollars keep a-tickin'. Eventually you run out of tenants and the landlord has to switch from Champagne Krug Clos du Mesnil Blanc de Blancs down to something he can spell.
Righto, nothing to do with the long weekend either? You are really sounding desperate these days.
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