After many years in the heart of the busy, but ever so expensive commercial centre of Lane Cove, Renegade Cycles has moved to a more suburban location, just 900 metres west along the same road.
Lane Cove is an affluent inner suburb of Sydney, on the north shore of Sydney Harbour, where the median house price is currently $1,400,000.
Owner Josh Blake took his chance to make the move when his lease was due for renewal. He said the landlords at the old premises were not interested in negotiating a more reasonable deal, even though a section of the store flooded with ever major rain, a problem they were not prepared to fix!
Josh said that most of his customers have followed Renegade to their new store, which is in a much smaller cluster of shops where parking is also much easier to find. The new location has the added bonus of a large rear area that can be used to store customers’ bikes before and after repair. This is particularly important because their workshop is ‘flat out’.
But best of all, his significant rent savings are boosting profitability.
Still no tenant for Renegade Cycles’ old store in the centre of Lane Cove.
The new Renegade Cycles is slightly smaller, but more profitable.