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Major commercial property purchases in Queensland are good news

By Greg Bell

Commercial property for sale on the Gold Coast is beginning to look more and more attractive with the news in 2015 that two major commercial transactions were planned in the Sunshine State.

The Dexus Property Group purchased two buildings in June 2015, Waterfront Place and Eagle Street Pier, at 1 and 45 Eagle Street respectively, for $635million. As well as that major commercial property acquisition was the news in September 2015 that Credit Suisse Asset Management was set to buy an office building in South Brisbane for around $40million. Clearly the investors for both groups found that it was the time to buy commercial property on the Gold Coast, and their willingness to do so is good news for other developers looking at moving into the Queensland market.

What does this mean for Gold Coast business?

As commercial property in Brisbane is being snapped up, it is setting the stage for the rest of the state. The sales of the two Eagle Street properties valued their combined floor space at $9,664 per square metre according to CoreLogic. Although the Credit Suisse purchase has not yet been confirmed, the organisation's interest in the city as a means of expansion shows a green light to other companies looking to do the same thing.

The Swiss-based asset management business projects that between 2014 and 2018 in Asia-Pacific it will more than double the available profitable growth, as stated in the company's 'Q3 2015 Overview Summary'. Credit Suisse is a company looking at a bright few years ahead, and the interest it has in the Queensland market shows the intentions of the firm clearly.

With major companies looking at buying commercial property in Queensland, the state is being set up to be a new financial centre. The commercial property for sale on the Gold Coast is a fantastic way for companies looking to expand to get into the state, or look elsewhere if a business is already established in Queensland. The high volumes of visitors to the area mean that it is becoming a major commercial centre. The Gold Coast Tourism Corporation found that in 2015, the region had about 856,000 international visitors, an increase of six per cent compared to the previous 12 months.

CEO of Gold Coast Tourism Corporation Martin Winter said that "Qantas' decision to fly daily between Tokyo and Brisbane from August 2015 will provide 210,000 seats a year from Japan", a further boost to the tourist economy, as well as the opportunity for more marketing to international property investors.

Capitalising is the key

With the possibility in 2016 of more than 1million tourists passing through the Gold Coast region, companies looking to lease commercial property in order to make the most of a unique period within a growing market should capitalise as soon as they can. Particularly with businesses in the hospitality arena, cafes and restaurants, retail property in Queensland is proving successful.

"The jewel in the crown has been cafes, restaurants and food services recording the highest growth" stated Chamber of Commerce and Industry (CCIQ) director of advocacy Nick Behrens.

More Queenslanders opting to stay within the state to holiday has meant that cafes have not suffered from any usual downturn as regulars leave the area to break elsewhere. That's encouraging news for investors looking at retail leasing.

As 2016 rolls on, towards the 2018 Commonwealth Games in the Gold Coast region, expanding is a great way forward for your business. The earlier your company takes advantage of the opportunity the better, in order to become established before the major tourism peak occurs with the Games in a little over two years' time.

Contact Ray White Surfers Paradise to find out more about how your company can lease commercial property in 2016.

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