Steve Kreig has announced the latest figures for CBD occupancy and economic facts released yesterday. Earlier in the week, the Lismore App spoke to a handful of retailers to see how business is going.  

Today, we take a dive into business around Lismore’s CBD to get a wider understanding of what is happening.

Lismore City Council conducted their regular audit of shopfronts and upstairs premises in the CBD. This took place in the week beginning June 17th. (the last one being December 2023)

The Lismore CBD Audit assesses the occupancy rates of central portions of Keen, Molesworth, Woodlark, Conway, Magellan and Carrington streets. Below are the street-by-street occupation rates at June 2024 compared with December 2023:

Keen Street occupancy rate – 82.4% (up from 81.1%)

Magellan Street occupancy rate – 81.7% (up from 76.3)

Conway Street occupancy rate – 77.3% (up from 72.1%)

Carrington Street occupancy rate – 77.3% (up from 73.1)

Molesworth Street occupancy rate – 77.0% (up from 74%)

Woodlark Street occupancy rate – 65.1% (up from 60.7%)

Lismore City Council comparative fact: Lismore CBD occupation rate was 90.2% in late February 2022, just prior to the natural disaster.

The positive jump in occupancy rates is reflected by Lismore Mayor Steve Krieg's sentiments.

“It was always going to be slow increases once we hit 70% occupancy, but to reach an impressive 76.8% by June 2024 is great news – and that doesn’t include shops like Trident Fish & Grill and others that have opened since,” he said.

“And with the Workers’ Club soon to reopen, it really is the time to invest in Lismore before it becomes more competitive.”

Recent SpendMapp data is signalling growth in both visitation numbers and spend in our business centres and across the local government area.

Total spending was up 10% in the CBD in May, compared to the same time last year. This consisted of a 20.9% increase in dining and entertainment, a 9.6% jump to professional services, a 1.8% increase in general retail and a 2.3% increase in food retail.

Across the LGA, total spend jumped 6.3% and there was a 7.9% increase in the visitor local spend when compared to the same period last year.

Some say Lismore’s vibrancy is becoming increasingly tangible. More and more people are sensing change. Has the tipping point indeed been reached?  

Speaking with retailers earlier in the week about how they were faring, it was interesting to hear what they had to say, as this was before these figures came out. 

Kaye from The Kitchen Shelf spoke of their connection to local supporters of both their retail and trade services, “We are pretty lucky the locals are so supportive. The new restaurant “Trident” bought much of their service ware from us. 

“We offer diversity in how we do business, which has evolved with the economic climate. You have to be competitive. It's a good town, and it’s lovely to see it coming back.”

Planet Music’ s Matt Bone says, “I get the vibe that people want to support local business.” At Planet Music, this support is reciprocal and Matt holds a gig every fortnight at their shop to support his customers' passion to play.

(It is so lovely, visiting a florist...)

Jo at The Enchanted Florist is feeling the competition in floristry in Lismore. “It is hard to have enough customers to go around to all of us.” Jo has implemented some strategies of her own, and has the sweetest bouquets ready to go out the front for only $5!

Jerry at the Forest Cafe has only been in business for just over a year. “I’ve been pretty busy. And this year is busier! People are friendly - I am very happy to do business on Keen Street.”

Ben at George Gooleys Menswear says “Business isn’t too bad, but we aren’t breaking records. Let's face it, you will always want to do better!” He says they are close to pre-flood sales.  

(Shopping at Gooleys for a 7 1/2 month old for an outfit to Careers Day at daycare)

“Retailers need to get their hands dirty and have a go. If you have reasonable prices and a good product, people get a fuzzy feeling when they shop local. It’s about having products that people want.”

The opening of Trident this week says a lot - the excitement of something new, with local celebrities and people who are serious about making an impact on the area. People were very keen to see what was on offer and queues trailed out the door.

Chris Photiou said, "It was an enormous turnout, actually. So you're pretty, pretty happy with how it's going. I would like to thank the people of Lismore for supporting us so well."

(Ashleigh (in pink) is the 100th customer at Trident Fish and Grill about an hour after opening its doors)

The innovative solutions business are coming up with to create an attractive space to shop are a big contributor to the Lismore vibe that is starting to flow once more.

With the backing of Lismore City Council and other big contributors to the wellbeing of the city, things are happening. Mayor Krieg said this Council was committed to creating the right conditions to attract more business investment in the city. 

Recent supported events like the Lismore Lantern Parade attracted an estimated 32,000 people throughout the day and evening, creating an economic impact of almost $2 million.

If you haven't stepped out in town for a while, or you are interested in opening a business, the best place to be on the street seeing what is happening for yourself.

Experience the impetus created with good business practices and events like the Lantern Parade, LisAmore, sporting events as well as creative and cultural festivities evolving Lismore in a dynamic way.