The Gold Coast Commonwealth Games might be two years away, but it's already bringing a number of advantages to businesses throughout the city. The government estimates that the Games will generate around $2billion for the region's economy, while also providing up to 30,000 full-time jobs.
This, on top of the widespread exposure of the area to an international audience, could mean that demand for commercial property on the Gold Coast goes from strength to strength. The Commonwealth Games has already brought high levels of development to this part of Queensland and local businesses have been first in line to get involved.
There's still plenty more to come, suggesting the Gold Coast that emerges in 2018 might be quite a different place from recent years. With all these new opportunities arising, it's easy to see why so many companies are hoping to relocate to this desirable part of Queensland.
It was announced in recent days that local businesses have been keen to get involved in delivering the infrastructure and facilities needed for the 2018 Gold Coast Commonwealth Games.
This included the transformation of the Broadbeach Bowls Club site, which is being used as a venue during the tournament. So far, more than 28 companies from the surrounding area have lent their support to upgrading the facilities, which is currently in its initial stages.
City of Gold Coast councillor for Division 10 Paul Taylor revealed that the ultimate aim is to make the site into a premier lawn bowls venue. This is something that will be used by athletes during the Commonwealth Games, but also by the local community once the event comes to an end.
Stage one of the transformation has so far involved installing better lighting to the bowling greens, bringing in new maintenance facilities and refurbishing viewing platforms. Businesses have also been involved in ensuring better accessibility and creating spaces for office leasing on the Gold Coast.
The local council has identified various opportunities that will emerge as a result of the 2018 tournament. Of the $2billion that has been dedicated to making the Gold Coast ready to host the Games, a large proportion has been – or will be – granted to procurement activities.
In turn, this means local suppliers will be able to get involved in bringing the event to this area of the Gold Coast, while bringing advantages to the city's economy.
Several commercial precincts throughout the city have been earmarked for improvement. From upgrades to Southport Mall to creating on-road cycle lanes and pedestrian paths, the ways in which the Gold Coast will benefit businesses are highly diverse.
A network of safety cameras is also due to be installed throughout the city, which will offer peace of mind to both companies and residents alike. Some of the upgrades are for aesthetic purposes, including better streetscaping and introducing a tree planting and floral program to make certain parts of the city more appealing.
Millions of eyes will be on the Gold Coast when it hosts the Commonwealth Games in 2018, so can you afford to wait to find commercial premises in the city? There's just no telling what impact the event might have on prices in the area, but its increased exposure could mean investors are reaping even stronger returns than ever.
Make sure you speak to our team of experts sooner rather than later if you want to buy commercial property on the Gold Coast. We can advise you on the best places to look, especially if you're hoping to maximise the opportunities that will emerge from the Commonwealth Games.