A big player in the Queensland commercial property game is setting its sights on the Gold Coast for 2016. Reed Property Group (RPG) is looking at commercial property for sale in the Gold Coast as it seeks to expand its portfolio.
Property experts are excited about the prospects that the Gold Coast is offering, and with the Commonwealth Games looming in 2018, the market is set to benefit greatly.
"Low rental vacancy statistics coupled with the large volume of enquiries received over the past few months indicate there undoubtedly continues to be a strong demand for housing in these two Queensland regions," commented RPG CEO Jay Emmerton to My Sunshine Coast, about the Sunshine and Gold Coasts.
"With the Commonwealth Games now only two years away, we expect interest in the Gold Coast and the potential it offers will continue to grow, which is why we're exploring a number of opportunities in the area."
RPG has a solid portfolio of commercial properties already established in Queensland, including Emporio on the Sunshine Coast and Belise in the heart of Brisbane. Emporio is a mix of apartments, retail stores and office space, while Belise is a 21-storey apartment building. The move further south suggests the property investors see major potential in the region and are looking to capitalise early on that.
If the developments that RPG expands with are in line with their previous commercial property moves, office and retail leasing on the Gold Coast will receive a significant boost and pave the way for further regional advances.
According to CoreLogic, rents in the Gold Coast increased by 3.9 per cent to $499 a week through the December 2015 quarter. Having set a solid foundation at the end of last year, commercial property in the region looks ripe for the taking and already property investors are eyeing up a move.
Property moguls Kevin Seymour and Lang Walker are both ready to take full advantage in south east Queensland, according to the Australian Financial Review, and having more significant investors get footholds in the Gold Coast will drive growth further.
Expansion of developments could mean greater availability to lease commercial property in the Gold Coast and that can only be good news. The growing region is not solely going to benefit property developers, as having more office and retail space will entice companies to enter the market and keep pace with what is going on.
Residential property is growing steadily as well, and the CoreLogic end-of-year wrap for 2015 stated that "it looks as though housing market conditions are starting to pick up in south-east Queensland."
With enhanced confidence continuing in the region, more and more people will be looking to plant themselves in the Gold Coast and that means more retail and office space will be needed. More people in the area is also going to mean that businesses will see greater clientele growth and thus will be able to expand themselves. Overall, the heightened consumer confidence in Queensland property, both commercial and residential, will be mutually beneficial and promote the continued developments that are being planned by many of the big commercial players.
As these developments gain traction and start moving forward, people looking at office and retail leasing in the Gold Coast should look no further. Contact Ray White Surfers Paradise now to see what properties are available that will suit your needs. Our 250-strong team will have everything you could possibly want, so capitalise alongside the big property investors and make the most of what the Gold Coast is going to see in the very near future.