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An empty space is a lost opportunity

28 September 2017 | Posted in: News

Written by: Rayannon Innes | Photography: Edwina Richards

We see empty spaces, we can spot them a mile away, like a beacon on a dark night. We also celebrate progress. We are excited to see the former David Jones building opening as a display room on the ground floor and look forward to a finished light rail.

But progress takes time, Rome wasn’t built in a day. The proposed opening for the first project in the mall and the light rail is well over 12 months away. In the mean time, Renew can continue to do what we have been doing for the past eight years – bringing activity that helps local business in the mall and down Hunter Street to operate in the gap between now and then.

A study by the University of Newcastle last year, showed Renew projects contributed over $3m to the local economy in 2016. Having Renew projects existing in the CBD brings people to the area. It brings more people to work there, it brings people to shop there and this brings people to the other businesses nearby.

Having a Renew project in the neighbourhood can help reduce the impact of disruption. Renewer’s don’t mind if there is building work going on, if the road is blocked off, if there are rail cables being laid, or has fencing on the street outside the front door. Renew projects are happy to fill the gap while this is being done and in doing so can help sustain activity for existing businesses in the area.

We can only do this though with the support of property owners. We have worked with GPT for many years to fill the gap in their empty properties. These are now being returned and redeveloped by Iris Capital into what will become our new city centre.

There are still many empty properties waiting their turn. They sit on the streetscape with sad eyes and empty faces affecting the mood of the neighbourhood.

A temporary Renew tenant can help change the mood. As a property owner, you  choose the tenant from a list of potential projects and we will look after the rest. Renew will manage the tenancy, the basic maintenance and insurances, pay for water and electricity and fill the gap with activity. When either party wishes to exit the agreement, the tenant will vacate within 30 days leaving it in better condition than when they arrived.

If you have an empty property waiting for future change, we can fill the gap and reduce the impact vacant spaces have on their surroundings. Don’t let your property be part of the problem. As we see it, an empty space is a lost opportunity for the owner, the surrounding business and for an emerging endeavour. Call us today, we can work together to keep the city active during the disruption of progress.