New avenues are open for infrastructure investment

By Greg Bell

A healthy pipeline of infrastructure is essential for a state to grow and become fully powered – it's like the equivalent of eating your vegetables. With ongoing projects to develop roads, rail routes, educational facilities, hospitals, shopping centres and the like, a city can grow in population and economic prosperity, creating fertile business conditions.

And new changes that are underway across Queensland mean that anyone seeking commercial property for sale on the Gold Coast could soon find themselves in a hotbed of activity, as new avenues open for funding to flow into statewide infrastructure.

New channels become available

In a 13 July statement from Queensland Treasurer Curtis Pitt, it was announced that private funding for infrastructure would soon be a possibility. This opens the state up for development and business on a grander scale than before, allowing projects to move ahead much more quickly. 

"Our government is focused on infrastructure delivery, which is why we want to harness the knowledge and expertise of the private sector," Mr Pitt stated.

"That's why we're making it easier for the private sector to submit proposals which can capture economic uplift and job opportunities."

A new portal will go up online, which allows private entities and industry bodies to submit proposals for infrastructure projects. This will make it easier to process these, especially when there are several areas of government that will have an interest in a particular development. 

This could lay the framework upon which industrial leasing on the Gold Coast can flourish, and in time we will see if the expected boosts come to fruition. Organisers of infrastructure need to be offering unique proposals that are not in direct competition with any other project. 

What are the impacts for business?

The Chamber of Commerce and Industry Queensland (CCIQ) is over the moon about the changes, which the body says it has been calling for over some time now. Nick Behrens, director of advocacy with the CCIQ noted that this move from the government shows they have been listening to the people. 

"In CCIQ's state budget submission, we called for greater private sector involvement in infrastructure planning, development, construction and operation," he stated. 

"It is pleasing to see the government is listening to the business community and taking initiatives to establish innovative approaches to deliver infrastructure investment."

He believes there will be positive impacts for how long it takes to complete infrastructure projects, reduce the cost of infrastructure delivery, and overall create more affordable conditions for business to exist in. Anyone who has been considering retail leasing on the Gold Coast will be thrilled by the development, and may even have an eye on particular developments themselves.

Projects already underway locally

Here on the Gold Coast, there is already a wide range of projects that have been undertaken to improve the region. For example, a $10.5million expansion of Broadwater Parklands is currently underway, which is going to create educational facilities and new event spaces that the public is welcome to use. 

There will also be boat ramp facilities, new community spaces and park amenities constructed, which will create a series of excellent spaces for people young and old to get out and learn about waterways, marine life and the Gold Coast in general.

Projects like this can be excellent indicators of growth, and might be the sort of projects you want around your next business expansion. And with the increased potential for private investment in infrastructure, there may be no shortage of this down the line.

To find out more about commercial property for sale on the Gold Coast, make sure to contact Ray White Surfers Paradise. 

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