In a striking turn of events, a beloved family-owned antique shop in the eastern suburbs of Perth is compelled to shut down after nearly four decades of operation due to an astronomical increase in rent.
George's Furniture Restoration, a staple on James Street in Guildford, has been serving customers for close to 40 years. Unfortunately, the sharp rise in rental costs has forced this cherished furniture store to close its doors and move its inventory to a warehouse located in Welshpool.
George Nakhoul, an 80-year-old craftsman who founded the business in the late 1980s, shared that he has been immersed in this trade since he was just 16 years old. "This is in my blood, this is what I love to do," he passionately stated. He expressed pride in the store's success, attributing it to a loyal customer base cultivated over the years. "Many visitors are often amazed to discover that such unique items are still available here."
His son, Tony Nakhoul, has been assisting his father with the business since he was only 10. He fondly recalled their adventures together, remarking that sourcing antique furniture felt like embarking on a "treasure hunt." "Every trip was an adventure; you never knew what hidden gems you might uncover," he reminisced. "We often found severely damaged pieces that could have easily ended up in the landfill, but through hard work, we transformed them into stunning works of art."
Tony expressed his disbelief upon learning that the rent would more than double. "We simply have no choice but to close down and operate from a different location," he lamented. "Making this decision was incredibly tough after being part of this community for so long. We're well-known, and patrons travel from near and far to visit us. Although we're disappointed, we must persevere, adapt, and look toward the next chapter of our journey."
As for the reason behind such a steep increase in rent, Mike Rowe, a commercial real estate professional in Perth, suggested that it might reflect broader market trends. "We are currently experiencing a low supply of properties, especially in industrial zones, and retail spaces are similarly affected in well-established areas," noted Mr. Rowe. "Over the past three to five years, this scarcity has driven prices up significantly, leaving tenants frustrated by the limited options available to them."
Looking ahead, Mr. Rowe emphasized that interest rates in 2026 will be a crucial factor for both landlords and tenants as they make future decisions. "This topic is of great importance and will likely influence many choices moving forward."
Reflecting on the changing landscape of Guildford, Tony mentioned that his shop is the second to close on James Street in just six months. This trend raises concerns about the dwindling number of antique stores in the area and its potential effect on foot traffic. "This street used to be filled with antique shops; people traveled from all parts of Perth to spend their day here," he explained. "With these closures, replaced by stores that don’t draw visitors from afar, we risk seeing fewer people come here. That could spell trouble for local cafes and other businesses."
In light of these challenges, Tanya Richardson, the mayor of the City of Swan, assured that the city would continue to support small enterprises through new initiatives aimed at encouraging residents to shop locally.
