Two businesses in the large Stockland shopping centre have closed due to a huge hike in rents. One , Gloria Jean's Coffees, reportedly said to be facing a whopping increase running into tens of thousands in the rent , promptly closed down its busy operation .
Nearby , Wendy's Milk Bar has also pulled the plug at Stockland . A businessman said the proposed massive rent increase for Gloria Jean's was unconscionable , coming at a time when Townsville traders generally are experiencing tough times . He wondered what the situation is with Myer, which has a branch at Stockland . Another trader branded Stockland "ruthless".
Stockland boasts it is one of the largest diversified property groups in Australia , with more than $15.8 billion in real estate assets, owning, managing and developing shopping centres .
The Gloria Jean's coffee lounge at the large Castle Town shopping centre is still operating.
As usual, the Townsville media has not picked up this story . Any reporter who ventures into Stockland to follow up this story should also look at the nearby Commonwealth Bank shop , which opened recently, that seems to have turned staff into checkout chicks , apparently the latest banking style ... another story ?
