A proud Steve Krieg, Mayor of Lismore, stood before the media today, announcing the CBD occupancy rate had remained steady at 77%. There was some fluctuation between streets in 'The Block, with Molesworth Street jumping 12% since the last Lismore City Council CBD Audit in June 2024.

Standing on Club Lane looking at Molesworth Street, Mayor Krieg was proud, given it's literally 36 months since the February 28 2022, big flood.

"Almost to the day, where we stand now was totally underwater. To see the resilience in the recovery of our local businesses is really something to be proud of as a community, as an LGA and as a region.

"Molesworth Street has experienced the greatest growth. We have seen a small decline in some of our other streets, which is to be expected with cost of living pressures and interest rates being as high as they are; it is a really tough environment to be doing business, especially for small businesses. But people that have stuck it out, that have rebuilt, that have made the effort to not only come back, but come back stronger.

"We look at some of our premises now that are far more resilient to any of the disasters; it really is pleasing to see. So, I'm really happy to announce that Lismore is holding steady. There is room for improvement, obviously, and our CBD Activation Team and our Business Activation Team through Council are doing everything they can.

"There is some really exciting private investment that is earmarking Lismore into the future, and so I honestly can stand here and say that we do have a bright future in this city. There is obviously room for growth and room for opportunity here, and we'll work on that over the coming months and years, but I think Lismore is primed to experience its footprint again as the regional hub of the Northern Rivers."

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

• Keen Street occupancy rate – 85% (up from 81.1%)
• Molesworth Street occupancy rate – 86% (up from 74%)
• Conway Street occupancy rate – 67% (down from 72.1%)
• Carrington Street occupancy rate – 78% (up from 73.1%)
• Magellan Street occupancy rate – 75% (down from 76.3%)
• Woodlark Street occupancy rate – 60% (down from 60.7%)

Mayor Krieg said the local spend across the LGA in December 2024 totalled $111 million, an increase of 4.2 percent from December 2023. While this may have helped local CBD businesses, it doesn't stop the financial pain most local businesses have felt in the last two years, plus there is a federal election coming up.

( Mayor Steve Krieg with Council's Manager Destination and Economy, Tina Irish. Photo: LCC)

"Elections are never good for small business. It makes the consumer a little bit nervous about what is going to happen. But the interest rate cut is a step in the right direction; there's no question about that. As I said before, it is tough doing business at the moment. I think small business is probably the highest-taxed element across the country when you you take into account payroll tax and GST and all of those other taxes that small businesses are sort of having to pay out. It is a tough environment.

"With interest rates being what they are compared to where they were three or four years ago, it really is a tough economic environment. You throw into the fact that people have really, for want of a better word, maybe over-capitalised in making their buildings far more flood resilient in Lismore; it has heightened that economic pressure, there's no doubt about that."

"You can walk the streets and talk to businesses, and each one of our businesses is facing individual challenges, but there are also great successes as well. I mean, just down the road from where we are, there's a beautiful little espresso shop that was founded after their original cafe was devastated by the 2022 flood. The owners decided not to rebuild, but the staff got together to reopen a cafe. So there are successes as well.

"It's really hard sometimes to keep being so positive and to keep being optimistic when it is such a tough environment. But I think you've got to remember that while other CBDs around the region, around the state, are suffering just as much as ours to see that we are holding steady, we're holding our own. It's really pleasing."

As the CBD and other businesses take the long road to full recovery, the mayor mentioned the goal for the CBD was the January 2022 CBD Audit marker of about 92.5%. After other major floods, the recovery had a shorter timeframe, but 28 February 2022 was not like any other previous flood.

This is the fifth Lismore CBD Audit following the 2022 natural disaster, with previous audits undertaken in June and January 2023 and August 2022, and February 2022 (immediately prior to the February disaster). The same area of the Lismore CBD has been audited by Council staff each year since 2017.