A beloved Perth antique shop, George's Furniture Restoration, is facing closure after nearly four decades in business due to a dramatic rent hike. The family-owned business, located on James Street in Guildford, has been a local treasure trove for antique lovers since the late 1980s. George Nakhoul, the founder, shared his passion for the trade, having worked in it since his teenage years. The store's unique appeal lay in its ability to transform neglected furniture into beautiful pieces, attracting a loyal customer base.
However, the recent rent increase by more than double has left the family with no choice but to close the store and relocate to a warehouse in Welshpool. Tony Nakhoul, George's son and long-time partner in the business, expressed the emotional impact of the decision, highlighting the store's popularity and the community's reliance on it. The closure of George's Furniture Restoration is just one of many in the area, raising concerns about the future of Guildford's antique strip.
The rising rent is a reflection of the current market trends, according to Mike Rowe, a commercial real estate expert. The low property supply, particularly in industrial areas, has led to increased rental prices and limited options for tenants. Rowe predicts that interest rates in 2026 will further influence landlords' and tenants' decisions, making it a critical year for the property market. The situation underscores the challenges faced by small businesses in the face of escalating commercial costs.
The impact of these closures on the local community is a concern, as Tony Nakhoul points out. The area's reputation as an antique hub is at risk, which could result in reduced foot traffic and negatively affect nearby cafes and businesses. The City of Swan mayor, Tanya Richardson, has pledged support for small businesses through a new initiative to encourage local shopping, recognizing the importance of these businesses in the community's vibrancy and sustainability.
