Gold Coast 2020 – Major Infrastructure Round-Up

With the highest employment-to-population ratio outside of our capital cities, the Gold Coast is attracting a growing number of interstate and international residents who are enticed by the lifestyle and opportunities on offer.

Adding to this, an infrastructure investment pipeline of over $25 billion will continue to transform the region into a globally competitive city dedicated to business and employment growth for at least the next decade.

These fundamentals have helped deliver an incredible 24% median apartment price growth over the past five years, and with new apartment supply limited, this trend is set to continue. The powerful combination of strong employment and population growth, declining apartment supply and record infrastructure investment create the perfect conditions to maximise the ‘effortless advantage’ in residential property investment.

Now is an exceptional time to invest in a quality product that is positioned in a premium, high demand location, ensuring you benefit from strong value-uplift.

An overview of the Gold Coast’s key infrastructure projects which will help underpin its continued growth and investment opportunity is provided below:

Health and Knowledge Precinct | $5 billion

Southport CBD Rejuvenation | $5 billion

The Star Broadbeach Island Masterplan | $2 billion

This multi-billion masterplan features internationally-acclaimed hotel brands, parklands, residential, dining, retail, and a $100 million revamp of the Gold Coast Convention and Exhibition Centre. It is touted to rival Brisbane’s $3.6 billion Queen’s Wharf development, will provide 3,000 jobs once fully operational, and bring $2 billion-plus investment into the local economy through tourism.

Gold Coast Airport Expansion | $500 million

One of Australia’s fastest-growing airports, the game-changing expansion includes five new air bridges, a three-level terminal and extra space to accommodate additional flights and passengers. Currently in construction, with the new terminal scheduled to open mid-2021, direct benefits include over 1,500 jobs in the next two years. Set to double the 6.6 million passengers it currently welcomes per year, by 2037 the airport precinct will contribute $818 million annually to the region and support an estimated 20,000 full-time jobs.

The Spit Masterplan | $205 million

This long-awaited revamp set across 138 hectares of green space incorporates more than $205 million of commercial development. The site will also act as a catalyst for upgrades of privately controlled sites such as Marina Mirage, Sea World, The Sheraton Grand Mirage and Mariners Cove.

The Masterplan includes light rail, underwater sculpture garden dive, premium dining and bars, 130 hectares of conservation and open green space, plus a $7.7 million superyacht berth at the Southport Yacht Club, which could be docking as soon as October 2020.

Ocean-side Cruise Ship Terminal | $463 million

Also planned for The Spit is a terminal designed to cater to the world’s largest cruise ship vessels. Expected to generate approximately $3.1 billion in tourism for the Gold Coast over the next 30 years, the terminal will incorporate a 950m offshore jetty, a wharf including mooring and berthing facilities, passenger platform and landside facilities.

Home of The Arts Precinct | $118 million

On completion, the Home of the Arts precinct (HOTA) will be the Gold Coast’s premier venue for live performances, lake-side parklands, cinema, and art. With the first $37.5 million stage already complete, the second stage is due to open in February 2020 and will feature a $19.5 million green bridge to provide a vital access link. The third and final stage which will feature a $60.5 million art gallery which is due to open early 2021.

_______

It is an exceptionally exciting, transformative time for the Gold Coast. If you’re thinking about investing, then this is the city that you need to seriously consider, and fast.