Main Beach residents to brainstorm solutions in last-ditch bid to boost fortunes along Tedder Avenue strip

GLITZY Tedder Avenue business owners and their landlords have been told to sit down and sort out their differences over the high price of rent.

Shops for lease in the once-bustling Main Beach precinct around Tedder Avenue. Photo: David Clark

GLITZY Tedder Ave landlords are being forced to drop their asking prices as businesses continue to abandon the once-thriving strip.

But traders insist rents need to fall far further if life is to be breathed back into the area.

A Main Beach real estate agent who represents three key Tedder Ave landlords said while many of the established owners had been once bull-headed about lowering their asking prices, they were now open to striking deals.

Landlords have struggled to find new tenants for commercial properties in the Tedder Avenue precinct. Photo: David Clark

“We’d probably be able to start doing some deals at about $850 per metre squared gross, inclusive of the outgoings which is about $200 per metre squared plus GST,” he said.

Janette Peverill, who owns the old Domanis site on Tedder Ave with her husband Richard, said she had significantly lowered her asking price per square metre to give a fair go to prospective tenants.

“I’m inundated with tenants but I’m waiting for the right one – I want someone who is a proven operator,” she said.

Tedder Ave landlord Dan Scully said it was unfair to blame them for the downfall of the strip.

Mr Scully said council overheads were to blame for rent prices and locals needed to support Tedder businesses if the area was to pick up.

“We’ve had a few opportunities where we could have put people in but it wouldn’t have enhanced the street,” he said.

“You can attack the Gold Coast council to reduce the overheads. They’re ridiculously high.”

Traders have called on landlords to reduce rents to help save struggling businesses. Photo: David Clark

Gold Coast Candle Company co-owner Sevegne Newton has championed the cause for lower rents in Tedder since early this year but says she has had no joy in attempts to involve the council in talks to save the small business strip.

“(Mayor) Tom Tate turned around to me and said, ‘There’s nothing I can do’,” Ms Newton said.

“He said they’re not interested in dropping the rent because it’s worth more to them empty.

“(Rent) needs to come down to probably $600 or $500 per square metre (but) that devalues their property.”

Some businesses still remain on Tedder Ave but the area is desperate to attract more. Photo: David Clark

Main Beach Association secretary Sue Donovan said prospective tenants had been turned away by landlords unwilling to drop their rates.

“The rents are one of the major problems, as well as lack of foot traffic,” she said.

Cr Tate, in a statement, confirmed he would take no part in any revitalisation.

“Market forces ultimately determine rent levels,” he said.

“I encourage landlords to work with their tenants to ensure Tedder Ave is revived.

“I hope the key landlords in that area can find a positive solution for themselves and the tenants and patrons but clearly, council does not have a role in assisting private enterprise in this manner.’’