Gold Coast commercial markets navigates post-Games market

The recent Commonwealth Games delivered a swag of gold medals to Aussie athletes. However, the gains for businesses in Surfers Paradise and surrounding suburbs proved far less tangible, noted Michael Parisi, Principal of Raine & Horne Commercial Gold Coast.

Michael continued, “Overnight visitor numbers were fewer than expected, as many people from Brisbane, for example, preferred to use public transport to commute to events, before returning home that evening. This situation impacted the cash flow of many local business owners.”

The resilient Gold Coast business sector is already bouncing back however. “We’ve just had the June/July school holidays, and then we have the August vacations, followed by the annual influx of school leavers in November and then Christmas,” Michael said. “Things will get back to normal fast for Gold Coast businesses.”

Also, Michael commented that commercial sales markets on the Gold Coast have continued to operate robustly. “Shopping centres remain the star attraction and are selling at yields ranging between 6.25-7.5%, which was the return this asset class was achieving before the games,” he said.

Why Raine & Horne Commercial?

Our full-service commercial real estate network can provide in-depth knowledge of local and regional property markets, with insight and understanding that comes from being a part of a long-established national and international property group. Committed to personalised service and achieving unsurpassed results, our clients continue to benefit from our network strength, which allows substantial cross-flow of international referral, advice and investment.

The Raine & Horne Commercial network is comprised of 100% owner-managed offices and includes numerous industry leaders and award winners. We employ agents who are empowered, encouraged to share and who maintain first rate communication to deliver the best possible outcome with every transaction. We pride ourselves on staying abreast of local and national trends and developments in the property industry, resulting in consistently cutting-edge services and holistic solutions for our clients.

Our industry experts embody and respect the family-oriented values synonymous with the Raine & Horne Commercial brand, allowing us to provide a complete range of professional services for all aspects of commercial, industrial, retail sales, leasing and specialist properties.