There are many reasons a business relocates. Cutting commercial leasing costs, improving production, or simply making room for new employees can all play their part. It's that last point we're going to focus on here today.
Research company IBISWorld has released its data on which industries are set to undergo strong employment growth in 2017. It could identify new target markets for those looking to sell or lease commercial property on the Gold Coast, as well as give a general synopsis of employment market trends.
You might not expect online shopping to have a huge impact on commercial real estate – after all, isn't that just people buying things online? However, IBISWorld expects this employment growth to be focused on the following areas:
"Warehouse and distribution coordinators are likely to be especially sought after," added Senior Industry Analyst with IBISWorld, Nathan Cloutman. This indicates that manufacturers on industrial land on the Gold Coast, as well as local retailers, could see some significant expansion this year.
It appears much of the growth in Australia's employment landscape is going to be centred around technology. By the end of the 2021-2022 financial year, IBISWorld anticipates there will be a further 22,193 people working in the IT security consulting industry.
This is due to the eventual full rollout of the National Broadband Network, and a potential subsequent rise in cyber-security threats. Additionally, the development of artificial intelligence could have an impact on employment. All told, the full take up of technology among Australians will necessitate more people to help with problems.
Locally, that could mean a spike in retail outlets selling relevant tools, as well as commercial real estate expansions from companies that handle such matters.
Australian sports leagues are constantly expanding. Think back five years, when the Gold Coast Suns and GWS Giants joined the AFL. This year, we are seeing the introduction of a new women's AFL league. Cricket franchises, Super Rugby teams and more all rise and fall on the back of performance, funding and advertising.
Of course, these franchises and clubs don't get by on simply the players and coaches – sports administrative staff, from marketing to cleaning, are all required. That's why IBISWorld expects to see this industry's workforce expand by 4.3 per cent over the next four or five years.
In terms of an impact on the Gold Coast commercial real estate landscape, we could see new sports ground, more commercial office space for club home bases, and even more retail presence from these franchises as the seek to expand financially.
A related area of growth is likely to be physiotherapy services, which IBISWorld believes will see a 2 per cent employment rise.
Renewable energy is a focus for many government and non-government bodies, and a continued commitment to improving energy generation has IBISWorld expecting 2.1 per cent employment growth coming up.
At the moment, the Gold Coast Council is taking some measures to address renewable energy, including:
While not quite the same, it could open the door for the Gold Coast to be part of this employment growth in the near future.
This is just a sample of where more jobs should be created in the next few years. Anyone looking to lease or buy commercial property should get in touch with the team at Ray White Surfers Paradise.