Calls for development to move forward on Gold Coast

By Greg Bell

If you are looking to buy commercial real estate on the Gold Coast, there are several factors to take on board when conducting a property search. First of all is finding the right area. The Gold Coast City Council notes that we have the highest concentration of theme parks and similar attractions in the entire southern hemisphere, as well as 151 hotels, motels and apartment buildings.

This makes for a total of 13,500 rooms and a whole host of attractions across the board, meaning finding commercial or retail property on the Gold Coast that is situated in the right spot to capitalise on the appropriate market is important. With such a wide spread of entertainment, getting commercial real estate near transport links can be very beneficial. 

There are new developments underway that could vastly improve this connectivity. This means that more and more commercial property in Surfers Paradise and beyond is easily accessible by consumers and clients, no matter where in the region they are.

Light rail on the way?

Where one door closes, another opens. In a 28 April media release from the Chamber of Commerce and Industry Queensland (CCIQ), Gold Coast regional policy council chair Martin Brady expressed disappointment that the $7.6billion Wavebreak Island project faltered at a governmental level. This was followed by calls for other developments to be hurried along.

"The best way forward would be for the government to focus on the investment and delivery of other major projects in the region that will create short, medium, and long term jobs prospects," said Mr Brady. 

"The business community would welcome setting timelines for the delivery of the Light Rail Stage 2 development."

According to the Queensland government, this light rail project, once completed, will provide a world class service for locals and visitors who want to efficiently travel around the Gold Coast. The first stage already connects Parklands with Southport, Surfers Paradise and Broadbeach, including access to the Gold Coast Health and Knowledge Precinct. 

The second stage is proposed as a connection to the heavy rail system that sits at the northern reaches of the Gold Coast, and there is not currently funding allocated to complete this stage of the infrastructure. However, with the CCIQ still pushing for this development, it may be moved onto the agenda in the future. 

Interchange green light shows infrastructure growth

One move that was welcomed by Mr Brady in the CCIQ media release was an upgrade to the Coomera Interchange on the Pacific Highway. With $17.3million coming from the Coomera Town Centre, $10million from the federal government and the remaining $47.4million provided by the state government, it is an example of all stages of authority working together to facilitate the introduction of good infrastructure.

According to the Queensland government, this development provides access to "commercial and industrial estates and various amenities such as the BP Service Centre". This highlights the immediate benefits that these projects can bring for anyone seeking to buy industrial real estate on the Gold Coast

It will be completed in mid-2016, according to state timelines, and will further simplify access to the Gold Coast as well as provide more locations that could become commercial developments.

Keep an eye on the future

Anticipating local developments and working out which areas they can benefit are crucial parts of making the right commercial real estate purchase on the Gold Coast. Working with the Ray White Surfers Paradise group gives you access to a wide database of clients and information which can help you to make the right decision.

Give us a call or walk into one of our beachfront offices to make an inquiry about your real estate goals. 

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