George's Furniture Restoration, a family-operated business in Perth's eastern suburbs, is ceasing operations at its Guildford premises. The business, which has been located on James Street for nearly 40 years, will relocate its inventory to a warehouse in Welshpool following a rent increase that exceeded 100%.
George Nakhoul, 80, founded the business in the late 1980s, having worked in the furniture industry since he was 16. His son, Tony Nakhoul, has assisted in managing the business since he was 10, including sourcing antique furniture for restoration.
Tony Nakhoul confirmed that the significant rent increase left no alternative but to close the Guildford store. He acknowledged the business's established reputation and broad customer base.
Commercial real estate expert Mike Rowe of Perth attributed the rent increase to current market trends, specifically low property supply in established industrial and retail sectors. He noted that supply shortages over the past three to five years have contributed to increased rental pricing and limited options for tenants. Rowe also highlighted interest rates in 2026 as a key factor for future decisions by landlords and tenants.
George's Furniture Restoration marks the second business closure on James Street in Guildford within the last six months. Tony Nakhoul raised concerns that a reduction in antique stores in the area could decrease overall foot traffic, potentially affecting other local businesses such as cafes. City of Swan Mayor Tanya Richardson stated that the city plans to continue supporting small businesses through initiatives aimed at encouraging local patronage.