Commercial real estate expert says Geraldton business interest high, despite empty CBD shops on Marine Terrace

Despite multiple shops in the CBD becoming vacant, a local commercial real estate expert believes interest in businesses is high in Geraldton. According to a Geraldton Guardian survey, there were 24 currently unoccupied properties either on or near Marine Terrace in the CBD. Activewest Real Estate commercial manager Matt Poynton believed there was likely an explanation to why each of these properties were not in use. He said he didn’t buy into the idea the CBD had seen a decline in business. “If you do a bit of an audit from one end of Marine Terrace to the other, there’s actually very few commercial spaces that are currently available for rent or sale,” Mr Poynton said. “I’m not quite sure whether there’s a bit of fondness for yesteryear and the way things used to be, or whether this idea has just got legs on its own.” Mr Poynton continued, saying on average Geraldton was in a better position than even Perth. “You walk down Murray Street Mall, I’d argue on a percentage basis there’d be more vacancies there,” he said. In the past year, shopfronts including Rockman’s, Katie’s, Bankwest, and Bank of Queensland closed down. But some other businesses have popped up on the strip, including City Asian Delight and Arcade Kebab House. When asked if demand for businesses was strong in Geraldton, Mr Poynton said generally speaking, each case and each industry was different. “Depending on the nature of the shop and what you’re looking for, there’s spaces available but it’s certainly not a case where there’s an oversupply,” he said. “People have a misunderstanding of why sometimes they might see black sheets in a window. It might mean that a lease has already been written for that tenancy and they may be going through an approvals process for renovations or franchise process.” The City of Greater Geraldton said it was committed to working with local businesses and the community to ensure the CBD remains vibrant and development continues. Mayor Jerry Clune said the city took a number of measures to support the town centre. “The city actively invests in public spaces and programs to improve infrastructure, enhance safety, and create a welcoming environment for both residents and visitors,” he said. “The city encourages building owners to maintain their properties in order to enhance the look and feel of Geraldton’s CBD and advocates for investment in façade improvements and refurbishments. “The Do-Over Project, a recent collaboration between RAC, Town Team Movement, and Euphorium, with strong support from the City was held to inspire long-term proactive citizenship and activate underutilised spaces in the CBD.” Other initiatives to support activation in the CBD included a dedicated city precinct maintenance team, upgrading lighting and CCTV, hosting various events, supporting activation, and enabling development through the investment attraction policy.