If you're going to get a successful business off the ground, be it on the Gold Coast or anywhere else, one of the main ingredients you need is a solid piece of commercial real estate. Your location is everything in business – internally, it helps you build an engaging office environment for employees, and externally it lets you showcase your company to the world.
Investing in real estate is therefore a major step for any company – and usually, it's one that costs a hefty sum of money. In total, according to the Sydney Morning Herald, investors in Australia put more than $25 billion toward increasing in commercial property in 2015, and an even larger figure is expected by the end of this year.
Before making an investment in this market, it's important to do your homework and develop a solid understanding of the macro trends that are developing and the properties currently available.
What's happening in 2016?
If you're hoping a that leasing a new piece of Gold Coast real estate can invigorate your business, it's important first to explore the market and develop a solid understanding of what you're getting into. According to Practical Law, the last 12 months have been a turbulent time period in commercial real estate. Recent developments include:
All of the above factors indicate that in 2016, the market for commercial space is an aggressive one. It won't be easy to land the property of your dreams, but it can be done.
Making good decisions in your neighbourhood
One invaluable trait to have is an intimate knowledge of the region you're investing in. Say, for example, you're looking into Main Beach real estate. Ideally, you'd know the area like the back of your hand – where are the most popular neighbourhoods? What are the latest trends? Are property values going up, or stagnating?
Once you know the area really well, you might even have personal relationships with local sellers, or at least know them tangentially through friends of friends. This might help you find out who's the most motivated to get a deal done. This information can be invaluable.
If you don't have all this knowledge ready in advance, that's OK – you can get it. A thorough research strategy, including looking online and networking with others in the area, can help. It's also likely beneficial to partner with a real estate agency that knows the lay of the land.
Work with the real property experts
To find the best possible commercial real estate for your business, it pays to work with a company that knows the area better than anyone. You're in luck. Whether you're looking for a permanent establishment or rentals on the Gold Coast, the Ray White Surfers Paradise Group is here for you. We're the largest agency in the Ray White network, with 22 offices full of experts who can help.
We have offices well positioned across Australia. In addition, our comprehensive database of properties and easy-to-use website should make it as simple as possible for you to find the office space you're looking for. Just log on today and give it a try.