PROUDLY left-wing Sydney institution Gould’s Book Arcade is facing the axe as commercial pressures force it out of its decades-long home in Newtown.

The iconic Sydney University hangout, a one-time rallying centre for anti-Vietnamese war protesters and lately an unofficial office helping asylum seekers, has just three months to find a new home or a benefactor.

Owners of the King St business, founded in 1967 and billed as Australia’s largest retailer of used, remaindered, out-of-print and rare books under one roof, say they can’t afford the rent after enduring years of losses.

They are already looking for new premises.

“My father Bob started this as a bookshop of resistance during the Vietnam War. It belonged to resisters and was run by resisters,” said current owner Natalie Gould. “I wouldn’t have spent the past 6½ years trying to keep it open if it wasn’t.

“I’m a socialist, always have been and always will be. I don’t understand capitalism. I grew up in the shop, crawling on the floor when it was in Goulburn St. I love books and I just identify with the joint.

“But it has been a struggle trying to stay afloat.”

media_camera The iconic book store may have to move due to high rent. Picture: John Appleyard

She warns that King St is in danger of losing its soul as it becomes more gentrified and well-heeled.

“Every second shop is a dress shop, a bar or a coffee house. Is that the only kind of culture you want in the city?

“It’s slowly becoming white bread and I think that’s sad.

“It’s going to cease to be an interesting place to visit,” she said.

Wendy Sharpe’s artist books

Artist Wendy Sharpe discusses the artist's books she is working on as part of her residency Artist Wendy Sharpe discusses the artist's books she is working on as part of her residency

She doesn’t blame the landlord, saying he has “been pretty good” but says she can now only afford to pay less than half the rent.

“I have this fantasy that someone with a spare $4 or $5 million, who likes the idea of an ethical investment and only wants $2500 a week in rent, will come along and buy it and allow us to stay,” she said.

“If I was (Sydney lord mayor) Clover Moore I’d buy the building. They (the city council) have got plenty of money.”