If you haven't entered the race to buy commercial property on the Gold Coast yet, we think it's time you started taking a look. We take on more than 12 million visitors every year, according to 2011 census data, and see a total of $4billion in expenditure from visitors annually. Beyond the permanent attractions like Seaworld and the incredible coastline, there are also particular annual events that draw the tourist dollar to a peak.
One such occasion is the Castrol Gold Coast 600 V8 Supercars event, which is coming up this October – a prime opportunity for anyone hooked into retail leasing on Surfers Paradise to see their business boom.
The 2015 run of this legendary event was launched on 28 May by Queensland minister for tourism and major events Kate Jones, alongside Gold Coast mayor Tom Tate and James Warburton, the CEO of V8 Supercars. They noted that it is always a highlight in the Gold Coast events calendar, and generates a significant amount of economic activity – more than $75million in revenue for the state of Queensland.
"The event is one of the biggest on the state's events calendar. It created more than 90,000 visitor nights on the Gold Coast last year, with more than 35,000 people coming from outside of the city for the event," said Ms Jones in a press release.
In total, there is expected to be 180,000 spectators watching the race. A wide range of entertainment options will also be on display, including a rock performance from Australian legends Cold Chisel.
Mr Warburton said that last year's event was the biggest single occasion held on the Gold Coast in 2014, and hopes the coming race will fare just as well. This offers a fantastic opportunity for those with commercial property on the Gold Coast to make the most of tourist activity.
The race actually marks the opening of the Cold Chisel Queensland tour, which is an event in itself – the final shows of this tour have actually already sold out. The last performance of the band at a V8 event drew 50,000 people, and is yet another opportunity for owners of commercial property on the Gold Coast to capitalise upon.
As visitor numbers ride high, tourist parks, temporary accommodation and hospitality business are likely to reach capacity – owning a piece of this can form a canny part of your investment strategy.
In the words of frontman Jimmy Barnes himself: "Cold Chisel, V8 Supercars and the Gold Coast – what more could you ask for. I know it's going to be a night to remember."
As has been noted in a recent KPMG and University of Sydney report, Chinese investment in Australian real estate is starting to move out of the gateway cities of Sydney and Melbourne, as buyers seek out more affordable real estate with growth potential. Industrial and retail leasing sites on the Gold Coast offer just that, and with events like the V8 Supercars on the way, they could experience excellent growth in the near future.
Getting in before the rush is a great way to earn capital gains through investment. Whether it is a beachside storefront or an overnight backpackers, commercial real estate for sale on the Gold Coast is a real opportunity. Finding out more about what is available is as simple as contacting us at Ray White Surfers Paradise.
We have decades of experience putting together property packages in the local area, and know a big event when we see one. Who knows – it might even give you the chance to meet the working class man Mr Barnes himself.