One of the most important considerations when buying commercial property on the Gold Coast is transport in the surrounding area. How will employees of the lessor's business get to work? Even with sufficient road infrastructure for trucks to drive on for deliveries and pick-ups, accessible public transport is still an attractive option for any business owner.
Much like with buying residential property, you look for nearby train stations or bus routes that take you to the city or close to your work. Commercial properties are the reverse – you want centralised train or bus stations that connect your property with lots of other areas. Here's what you need to know about transport options before you invest in a commercial space:
When you invest in a commercial space in the CBD, your public transport options come from all over. It's easy to get into the city, and especially for retailers, there's plenty of possible foot traffic that comes along with it. An industrial commercial property, however, operates differently.
Not only will you find it harder to buy a warehouse or factory in the centre of the Gold Coast, but the types of business you're likely to lease to don't need foot traffic, and they don't require a space where their customers can come to buy off-the-shelf.
Instead, the transport options these businesses require, and what the business managers look for before signing a commercial lease, are for their employees. When it's easier for employees to get to work, it's better for the business. There will be less malcontent about getting to the place, and it's more attractive for new hires if there are plenty of transport options.
It's never a good idea to buy a commercial property for a bargain price and hope it gets connected to the highways at some point in the future, but you can check the planned developments to the Gold Coast's infrastructure and work backwards from there.
If a suburb is getting a motorway connection in the next year or so, start looking for commercial properties for sale in the area. You might be able to snap up the ideal space for way less than it may cost after the construction of the connection.
In the entire state of Queensland between 2003 and 2013, the value of completed engineering constructions more than quintupled, going from $7.5billion to $38billion according to Choose Brisbane. Between 2000 and 2010, Queensland's spending on infrastructure was 75 per cent higher per capita than the average of all other states and territories in Australia. Queensland's commitment to improving the infrastructure and connections all over the state is clear, and it could be advantageous for your commercial investment.
Not everyone can catch the train or bus to work everyday, but for those who can it represents a significant cost saving. Say you spend $50 per week (Monday to Friday) on fuel getting to and from work. The same journey on public transport might only cost $5 per day, saving you $25 per week. Over a year, that adds up to $1,300, and that's not even considering service and maintenance on your vehicle.
Public transport also reduces carbon emissions from cars. A fully loaded passenger train can take 500 vehicles off the road, according to the Bus Industry Confederation of Australia. A bus can take the equivalent of 40 vehicles off the road. If the average carbon emission from those cars is 170 grams of CO2 per kilometre, that's a saving of 85,000 grams of CO2 and 6,800 grams of CO2 per kilometre respectively – a huge dent in the carbon dioxide pollution from our commuting.
Businesses want sound transport options for their leased spaces, and public transport has other advantages too. For more information about finding a commercial investment on the Gold Coast that has great transport options, get in touch with Ray White Commercial Gold Coast today.