Do you know where your business will be in five, ten, twenty years? While we're sure you can count on the value of commercial real estate on the Gold Coast going up as time goes by, the intricacies of your business plan for the coming years and decades might be less certain.
However, the City of Gold Coast has presented its plan for the region, which gives you a clearer idea of where we're headed after the 2018 Commonwealth Games. So what's in store for Surfers Paradise and beyond?
Tom Tate, mayor of the Gold Coast, released the city plan on 11 December and noted some big figures for our part of the world. For one, he expects that our population will reach 800,000 by the year 2035. As of the 2011 Census, the Gold Coast local government area only had a population of 494,501.
So with such huge growth anticipated over the next 20 years, it gives some certainty and confidence for people that want to set up shop for the long run. A healthily growing population creates job opportunities and a wider consumer base, whether you're running a B2B office or a retail lease on the Surfers Paradise beachfront.
The release of the documents shows that infrastructure development is going to be a key focus. We already have the successful light-rail network across the Gold Coast, which should prove invaluable as we head towards the economic spike of the Commonwealth Games. But by looking beyond this event, the City of Gold Coast has put into place planning for ongoing connections that should last a very long time.
Looking at the details of the plan, the following projects are outlined for community infrastructure down the line:
These should all be excellent improvements to keep the local economy thriving, providing growth opportunities and new jobs. It's the sort of positivithat commercial leaseholders on the Gold Coast might be very pleased with.
Of course, the natural character of the Gold Coast is part of what makes it special, and the local government has accounted for this in the city plan.
"Some parts of the city will evolve and change to create many exciting economic and lifestyle opportunities, while other parts will be protected to maintain their existing unique character," the report reads. This suggests that heritage sites and popular or valuable locations will be preserved and maintained, keeping our best attractions safe from fundamental change.
One particular focus is the protection of the environment from urban sprawl, which is often a concern with growing areas like the Gold Coast. From the Burleigh Head National Park to the Hinze Dam to the Lamington National Park, there are many environmental attractions here that need great protection. Provisions for this in the city plan can account for ongoing growth in our important tourism market.
When you own commercial property on the Gold Coast, you want to make sure it's going to continue to flourish. This city plan should be a confidence booster for many locals, with the environment, local infrastructure, schools and so many other fundamental elements for growth accounted for.
If you're yet to get involved in the local market but want to, then the team at Ray White Surfers Paradise should be your first port of call.