Back in July, Sidney councillor Mervyn Lougher-Goodey had stated businesses who couldn’t make it in Sidney do so because of their own happenstance and that the economic climate did nothing to contribute to that.
But in the Oct. 17 issue, he’s stating that 10 per cent of the commercial sector is vacant. I’d like to mention the CBRE (Canadian market reports) cites an average of 3.5% vacancy. So what is the unique issue with Sidney?
Too many hands in the honey pot. We pay some of the highest retail rents — on par with Toronto, Amsterdam and Barcelona (Cushman retail study).