Study ‘rebuff’ in meters call

JOHN VAN KLAVEREN
Central Geelong is dying despite new property research suggesting the city’s heart is beating strongly, according to business operators.
The businesses identified paid parking as business enemy number one in Geelong’s CBD.
The Independent revealed two weeks ago that Richard Jenkins, of property valuer Opteon Victoria, had conducted analysis showing Geelong’s CBD had an acceptable retail space vacancy rate.
He brushed off claims of a CBD “crisis” and recommended subdividing six large vacant spaces to cut the rate to a healthy 4.5 per cent.
But First National real estate agent Greg McDonald urged traders to unite in a campaign for removal of parking meters.
“We should all put into a fund to campaign against councillors who object to parking meter removal,” Mr McDonald said.
“Every trader is throwing their hands up and they’re all looking at their options. The whole CBD is being devalued – rentals are dropping, even the city is dropping its rates because buildings have lower valuations.
“If buildings are worth less, landlords can’t charge the same rents and you get lower-value tenants – it becomes a downward spiral.”
Mr McDonald said central Geelong could no longer support its existing businesses against regional shopping strips and centres.
He fired a broadside at council, saying it lacked “business thinkers”.
“The council took out far too much angle parking in Ryrie Street and took out too many car parks with the entire CBD revitalisation.
“We need more off-street parking. It needs to be put right, like Mercer Street was.”
Ramsay’s Bakery owner Greg Costa said he invested in refurbishing his Malop Street premises only after significant concessions from his landlord, Market Square.
He singled out parking meters, high rents and decreased passing traffic as major issues for traders.
“I only put money into this place because I got a rent reduction,” Mr Costa said.
“I was going to leave at the end of my lease because I wasn’t going to be able to make money.”