A heartfelt goodbye to a beloved antique shop in Perth's eastern suburbs, as George's Furniture Restoration, a family-run business, is forced to shut its doors after almost four decades. The reason? A rent spike that has doubled the cost, leaving the owners with no choice but to relocate.
George Nakhoul, the 80-year-old founder, has dedicated his life to this business, starting at just 16 years old. For him, it's not just a job; it's a passion. "This is my life's work, my calling," he says. With regular customers returning year after year, George's Furniture Restoration has thrived.
But here's where it gets controversial... The increase in rent is a reflection of the current market trend, according to commercial real estate expert Mike Rowe. With low property supply, particularly in industrial and retail areas, prices have skyrocketed, leaving tenants with limited options.
And this is the part most people miss... The impact of these closures goes beyond just one business. Tony Nakhoul, George's son, who has been a part of the business since he was 10, highlights the potential ripple effect. With antique shops closing and being replaced by more modern stores, foot traffic in Guildford may decline, affecting not just the antique shops but also the cafes and other local businesses.
"It's a sad reality," Tony says. "Guildford used to be a hub for antique enthusiasts, but now, with fewer options, people might not make the trip."
The City of Swan mayor, Tanya Richardson, acknowledges the concern and assures support for small businesses through initiatives encouraging locals to shop within their community.
So, what do you think? Is this a fair reflection of the current market, or is there more to the story? Share your thoughts in the comments; we'd love to hear your perspective on this bittersweet closure.
