Investment activity in the Gold Coast office market was subdued in 2018 with few assets on offer, although Knight Frank expects the tide to change this year with around $90 million in assets hitting the market in 2019's first quarter. The office investment market on the Gold Coast, Australia’s sixth largest city, has traditionally been dominated by private investors and syndicators given the relatively smaller investment scale. But as confidence builds with a higher level of tenant demand and the depth of the market, Knight Frank’s Mark Witheriff says the region is “likely to appear on the radar for a greater swathe of investors”. Sustained population growth is forecast to average two per cent per annum over the 25 year period from 2016 to 2041, with the majority of growth to come from both internal and overseas migration attracted to lifestyle and educational opportunities, according to Knight Frank's Gold Coast...

Visitors to Queensland for the Gold Coast 2018 Commonwealth Games faced increased room rates as hotel operators cashed in on the visitor boom. The Gold Coast’s hotel performance was largely driven by high rate premiums during the event, which ran from April 4 to April 15. According to a report from research group STR, the average daily rate came in at $347.38 – a 76 per cent increase over the same 12-day period in 2017. The market’s growth in revenue per available room exceeded 100 per cent most nights during the event, with the peak level occurring the night of the opening ceremony on April 4 – jumping 205.4 per cent to $294.26. The spike in average daily rate and revenue per available room occurred despite the fact that Gold Coast hotels did not register at-capacity occupancy levels. The market experienced its highest occupancy level (92.8 per cent) on the...

The site of the former Gold Coast Hospital in Southport will be transformed into a $550 million masterplanned residential hub, with council giving their tick of approval for the first stage of “Queen Street Village”. Stage one includes the Palladium – a 19-storey building which features 17 levels of residential apartments ranging from one to three bedrooms and a retail piazza on the ground level. Stale hospital rooms will be replaced with apartment views of Surfers Paradise as Brisbane-based developer, Property Solutions has proposed a seven-tower development on the 3.2-hectare site. The proposed seven towers will range in height from 16 to 25 storeys and the site will include a residential care, a retirement facility, theatre, health care services, food and drink outlets along with a showroom and offices. Property Solutions sales and marketing director Craig Wright says the initial research identified the large site as the ideal place for...