The huge $22 million redevelopment of Stanmore Road in Yatala is almost finished, which could be great news for those interested in buying commercial property in Surfers Paradise. This major road corridor on the northern edge of the Gold Coast is one of the main traffic routes into the area, with the redevelopment aiming to ensure the infrastructure can handle the growing needs of the region.
As the area continues to develop, more and more people are travelling to and from the local community. Being able to provide for them and ensure everything runs smoothly at all times is the name of the game, with changes to the road including a new intersection at Darlington Drive/Pagan Road/Sandy Creek Road and the widening of a four lane carriageway. Furthermore, improved vertical and horizontal alignment and an overall better accommodation for cyclists and pedestrians round out the project, which is almost finished and set to open.
Acting Mayor Donna Gates said these changes would be aimed at improving safety, especially with the mix of trucks that make up 40 per cent of the routes daily use. Looking after cars, cyclists and other vehicles in this environment is a must. In fact, the road is expected to see more than 6,500 vehicles each and every day – with 22 per cent of these being commercial-type vehicles, used in a number of heavy duty industries.
"This is a fast-growing area of the Gold Coast, and as a result of this investment by the City, we have a new dual carriageway that will meet the needs of all road users," said Ms Gates in a 20 October statement.
"Our budget of $22 million in this project included $5.7 million from the federal government's Roads to Recovery program, and even better news for ratepayers is that savings of some $2.5 million were made on the initial project budget as the result of changes to bulk earthworks, pavement and stormwater modifications."
The project is a part of the Gold Coast's Transport Strategy over the 2014/15 period, with more than $176 million being filtered throughout the region into improving roads, transport options and parking lots across the local community. Keeping infrastructure in the best, most accommodating position possible is an essential part of stimulating further growth across the Gold Coast region.
Furthermore, the latest release from employment agency Hays Recruitment has highlighted the explosive rate of construction growth in Australia, with the industry seeing employment grow at its fastest rate in nine years. In the organisation's new quarterly report for the last three months of 2014, Regional Director of Hays Construction Adam Shapley found improvements in employment across the industry to be encouraging.
"The commercial construction sector appears to be following the lead of new residential construction, which is a very promising sign for the generation of new jobs," said Mr Shapley in a 21 October statement.
"There has been an increase in demand for Contract Administrators across all building sectors, particularly for candidates with large scale residential development experience. In capital cities candidates with significant commercial fit-out and refurbishment experience are also highly sought."
He went on to say that this was in line with residential property growth in a number of different Australian states, with the overarching feeling being one of confidence for the future. The creation of new jobs and the development of new infrastructure and property across the nation is one of the biggest incentives for investment in the region at the moment.
If you're interested in purchasing Surfers Paradise commercial real estate, now could be a great time to get in touch with a local real estate agent to begin investigating the options available to you across the market.