The Gold Coast is once again taking off as a holiday destination attracting large numbers of international and domestic tourists, and enjoying a boost to the local economy, according to Michael Parisi of Commercial Gold Coast. “The Gold Coast economy is yet to be affected by cost-of-living increases,” explains Michael. “The region is supported by the migration of baby boomers relocating to the area, and this has further boosted confidence in the market.” This confidence is reflected in low vacancy rates and the higher rentals being achieved coupled with low stock levels. “This ensures properties do not remain on the market for long, with a growing number of commercial properties being sold off market,” adds Michael. The strength of the market is highlighted by the recent lease of L1/F3/3197 Surfers Paradise Boulevard, Surfers Paradise situated in a prime location and with a generous building area of approximately 900 square metres. Located in the heart of Surfers Paradise, this property benefits from high foot traffic and excellent exposure, and was successfully leased by Michael’s team for $275,000 per annum. Michael Parisi michael.parisi@rhc.com.au Gold Coast Office Industrial Retail Rents p/m² Vacancy Yields Rates p/m² Six-month market outlook For more information, contact: Office Industrial Retail Rents p/m² $300-$400 $250-$350 $700-$1,200 Vacancy 5% 5% 5% Yields 6-7% 6-7% 5-6% Rates p/m² $4,000 $2,500 $10,000 Current market conditions $275,000 p.a. 3197 Surfers Paradise Boulevard, Gold Coast Recent Notable Transactions LEASED $110,960 p.a. 149 Cotlew Street, Ashmore LEASED 28 | Queensland
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