The construction and expansion of commercial properties is a great opportunity for enterprises to seek out new business investments. With two landmark projects recently announced, in the form of a major theme park near Surfers Paradise and a 17-storey hotel in nearby Broadbeach, the Gold Coast looks to go from strength to strength.
Read on to find out more about these exciting developments and what they mean for commercial property investment and growth on the Gold Coast.
Chinese theme park operator Songcheng has revealed plans to construct a $400million theme park on the Gold Coast. This would mark the company's first move to an overseas market, aiming to meet the increasing demand for tourism spots from both locals and international travellers.
Songcheng Performance Development, which owns and operates more than 30 theme parks in China, is one of the 10 largest theme park operators in the world, reports The Australian.
The Shenzhen-listed company is said to have won board approval to begin construction on a project on the Gold Coast titled "The Australian Legendary Kingdom".
Offering a mixture of Australian and Oriental culture, the project is designed to meet diversified tourist demand from different age groups. The theme park will feature an "Australian Legend" grand performance, and offer unique attractions including "Australian Aboriginal Cultural Village", "Wild Australia" and "Mysterious Orient".
Songcheng says it will commit almost $400million to the first-stage investment, which includes about $66.3million for the cost of the land. According to The Australian, the additional $329.6million will be spent on the design and construction of the park itself, located just 10km from Surfers Paradise.
Despite being relatively late to enter the Australian market, Songcheng seems to be embracing the move. This could be in an effort to move ahead of competitive companies also looking to build theme parks and tourist attractions on the Coast, indicating a growth in foreign commercial property investment.
The suburb of Broadbeach – located in the very heart of the Gold Coast – is swarming with dining and retail options, designed to maximise tourism while maintaining a family-friendly atmosphere.
According to The Gold Coast Bulletin, a six-star, 17-storey all-suite hotel tower will open at the front of the existing Jupiters Hotel and Casino in the countdown to the upcoming Commonwealth Games.
Connected by skywalk to the Gold Coast Convention and Exhibition Centre, and by monorail to Oasis Shopping Centre, Jupiters Hotel and Casino sits on an island in Dunlops Canal. In addition to the casino, the illustrious hotel boasts a day spa, an outdoor pool and a sundeck with cabanas, along with a hair salon, a fitness centre and theatre.
Jan McCormick, chief executive of Broadbeach Alliance, describes Broadbeach as 'the jewel in the crown" of the Coast, reports The Gold Coast Bulletin.
"It's got everything – it's got the parks, it's good for partying, the casino, all the restaurants and now Pacific Fair's up and running there'll be more than 300 retail outlets," McCormick said.
"Broadbeach is a really unique urban precinct now, it's come of age, it's just got the edge and it caters to everyone. It's a tourist mecca for families."
Theme park development is always an exciting time for commercial property investment. At all times of the year, families and tourists from around the world flock to these grand entertainment and amusement parks, with many making the trip specifically to visit the attractions. With the news of these two construction projects, the future of the Gold Coast seems very bright indeed.
If you're looking to invest in commercial property and become part of a region growing in business opportunities, reach out to the commercial team at Ray White on the Gold Coast today.