The Gold Coast is becoming a hub for businesses around the east coast of Australia, and the need for great office leasing in the region is becoming more important as the population grows.
Taking advantage of what potential clients want is important, and can send owners of commercial property on the Gold Coast down a successful path.
But what do potential tenants look for, and why is the Gold Coast the best place to buy commercial property?
The City of Gold Coast Economic Development Strategy 2013-23 (EDS) states that the council is aiming for major increases in the number of employed residents over the next seven years. In 2012, 240,074 people were employed in the area, and that number is predicted to reach almost 300,000 by 2023.
So many people being encouraged to find employment on the Gold Coast will require an increase in the quality and quantity of spaces to work from. Owners of office spaces for lease can benefit with greater demand for appropriate workplaces, and more people coming into the region.
Statistics from the Australian Bureau of Statistics (ABS) in 2011 found that there were 28,618 managers in the city, 40,203 professionals and 33,684 administrative workers accounting for 44.3 per cent of the combined workforce.
With almost half of the employed people around the region in a work environment that typically operates from an office, creating suitable space for businesses to lease can potentially boost the value of your portfolio. More people are flooding into the region for employment, with the EDS looking for an 18 per cent increase in gross regional product per capita and an improved standard of living being made accessible.
Making your office spaces stand out from the rest as more functional for businesses will help your profits to flow.
Owners of office spaces can learn from an economic hub of Australia in Sydney, and how its office spaces are made accessible to tenants.
The Real Estate Institute of New South Wales (REINSW) spoke to members of its community about what businesses look for in a potential work environment.
Among the responses, overwhelmingly organisations said they seek offices that have close proximity to public transport such as buses and trains, or the new light rail network in Southport, for example. Therefore investors should look to buy commercial property in the Gold Coast that has excellent access to public transport within walking distance of the building.
Another major key for companies is access to car parking, most especially in built-up areas around the CBD. When an employee is able to park close to work, or store their bicycle, they can be more productive because they won't have to travel so far from their vehicle to the workplace. The same goes for access to public transport. Working in with the EDS which hopes to see a 22 per cent more productive workforce, available car parks could make your office space the most sought after property around.
With the advances in technology leading businesses towards exploring the digital world, having a building that can offer better access to internet and mobile reception will point potential tenants towards your lease.
"Mainly a result of technology's rapid growth, tenants commonly require high speed internet, wireless options and extended hours," said Addison Hunter of Shead Property in Sydney to REINSW.
Taking into account specifications from clients can be a great boost to an investor's chances when it comes to finding a tenant for lease. Car parking, proximity to public transport and great technological improvements are just some of the ways that an office space for lease on the Gold Coast can be more successful and increase the value of a property portfolio.