Thursday, 20 February 2020

Strip shopping centres

Mr FOWLES (Burwood) (09:51): I rise today to draw attention to the challenges facing retail and hospitality businesses in my electorate. Shopping strips are the beating heart of so many communities right across our city, but they are under pressure. High-profile precincts like Fitzroy Street, St Kilda; Bridge Road, Richmond; and Lygon Street, Carlton, are all undergoing significant stress and economic change. But the challenges are not confined to the inner city. In High Street, Ashburton, and Toorak Road, Burwood—both in my electorate—the same pressures are being felt. Rents are significant and are not responding to changing circumstances, resulting in long periods of vacancy, which only serve to contribute to the sense of decline.

The banking system is partially at fault, because it creates a perverse incentive for landlords to hold out for above-market rents. This is compounded by the fact that the major banks are gutlessly exiting these strips, depriving retailers of both an essential service for their businesses and foot traffic past them. Competition from large shopping centres and online retailers is intense, and the effects of the coronavirus have been savage. I commend the work of the Ashburton Village traders association, led by my very busy predecessor Bob Stensholt, and the Burwood Village Traders Association, led by Wayne Stoll. Those associations are working hard in difficult times to keep their strips fresh, relevant and accessible. I recently spent a morning on High Street, Ashburton, asking shoppers for their views on making the strip better. There were some great ideas, but I am sure there are still more great ideas out there. I invite all residents to share their ideas via email, phone or the comments section below this video and to support our local traders.