https://bloorhomes.com.au/wp-content/uploads/2019/12/Gold-coast-freeway-upgrade.jpg5761024Lesley Bloorhttps://bloorhomes.com.au/wp-content/uploads/2017/11/Bloor-Homes-Property-Management-min.jpgLesley Bloor2019-12-17 05:35:082019-12-17 05:35:08State government wastes no time on Gold Coast transport projects
The retail sector at the southern end of the Gold Coast is tipped to soar when the next stage of the city’s light rail project is completed.
The federal government last week announced an extra $157 million for stage three of the light rail network, which will see trams extend from Broadbeach South to Burleigh Heads. This adds to the $351 million that the state government has promised for the next stage and $92 million from the council. Work is expected to begin straight away.
Stage one was completed in July 2014, from Gold Coast University Hospital to Broadbeach South. Stage two was a 7.3-kilometre extension from the hospital to Helensvale Station in the northern Gold Coast and opened in December 2018.
Knight Frank associate director retail leasing Tanaka Jabangwe said the new light rail extension would encourage more tourists to venture south from the traditional retail precincts of Surfers Paradise and Broadbeach.
Disruption from construction of the project was likely to be less pronounced than the first stage in particular, given the lower density of retail in the southern Gold Coast region, he said.
“The stage 3A extension of the light rail will be a vital piece of infrastructure for the Gold Coast as it will connect heavy rail from Helensvale Station to the precincts of Southport, Surfers Paradise and Broadbeach, and all the way south through to Burleigh Heads,” Mr Jabangwe said.
“Ease of access across the city will generate economic growth for retail businesses in the southern Gold Coast catchment.”
He said local retailers would be able to claim a bigger slice of the estimated $5 billion spend that comes from nearly 13 million domestic and international tourists to the Gold Coast each year.
One of the big winners from the project is expected to be Burleigh Heads, according to Herron Todd White valuer Ryan Kohler.
He said the suburb’s retail sector was currently performing well because of strong local patronage but was likely to strengthen further following the project’s completion.
Mr Kohler said local retailers should be positive about the extension, but they might expect some disruption during construction.
“The light rail will galvanise the long-term relevance of these areas, making access more convenient for those from further afield and will also encourage tourists to venture further south,” he said.
“From a town-planning perspective, it is not unreasonable to expect there will also be some long-term befits as well, as council may be supportive of higher density development around the future stations.”
Brodie Millwood, general manager of popular Burleigh Heads eatery Justin Lane, said the light rail was a positive for the retail sector, but he had concerns about the impact of construction on local businesses.
“The Gold Coast is growing up, there’s a huge number of people moving here. We need a public transport system that can deal with this. This is a step in the right direction,” Mr Millwood said.
“The major concern prior to completion is the impact that the construction will have. For us, at least, I believe that the construction is on the other side of the road, so potentially we may be protected from its negative impacts a little.”
JLL Australia retail investments senior director Jacob Swan said the Gold Coast light rail project had generally helped to increase foot traffic as well as drive new retail openings along its corridor.
He said more tourists and international students as well as events and festivals had been coming to the Gold Coast following the launch of the project.
“The dedicated Gold Coast light rail corridor has been a catalyst for development, with the ‘light rail growth corridor’ driving growth in capital values and higher levels of redevelopment activity,” Mr Swan said.
“Transport infrastructure projects can have a very positive impact on retail real estate values by improving connectivity and access for consumers.
“It typically spurs investment and development for surrounding property and drives a revitalisation of an area.”
https://bloorhomes.com.au/wp-content/uploads/2019/11/Retail-at-southern-end-of-Gold-Coast-set-to-soar-following-new-light-rail-extension.jpg348600Lesley Bloorhttps://bloorhomes.com.au/wp-content/uploads/2017/11/Bloor-Homes-Property-Management-min.jpgLesley Bloor2019-11-27 01:04:362019-11-27 01:04:36Retail at southern end of Gold Coast set to soar following new light rail extension
NOT everything in the bricks-and-mortar realm of the digitally disrupted world of retail is shrinking.
At least, it seems, not within the Brisbane-Gold Coast growth corridor.
Work has begun on what is being touted as becoming one of the biggest large format retail precincts in Queensland at the rapidly growing northern end of the Gold Coast.
The $200 million development to be known as Home Focus Pimpama will have more than 53,000sq m of floor space when completed.
Hardware giant Bunnings has already been secured as a major tenant in the homemaker centre, subject to development approval.
Guzman y Gomez, the global casual-dining restaurant chain, is another key tenant that has pre-committed to the first stage of the project.
The large format retail precinct — at Exit 49 on the M1 motorway — is being developed by the Gold Coast-based Baycrown Group, which bought the 24.8ha site at Yawalpah Rd, Pimpama, in 2014 for $14.18 million.
Artist’s impression of an aerial view of the $200 million large format retail development, Home Focus Pimpama.
Baycrown’s managing director, Olivia Van Asperen, said the group was excited to be creating the new retail precinct and being a part of the growth of the local community.
“Pimpama is recognised as one of the fastest growing areas in southeast Queensland,” she said.
“Stage one of Home Focus Pimpama consists of 28,017sq m of retail floor space with more than 60 per cent already pre-committed.”
Bunnings is looking to open its new warehouse outlet late next year and there will be about 30 other tenancies ranging in size from 200sq m to 2000sq m in stage one.
Ms Van Asperen said the Baycrown had been working with Paul Ziukelis Architects to masterplan and design the homemaker precinct, which will also feature pedestrian and bicycle linkages and 1200 carparking spaces.
She said an upgrade of Yawalpah Rd to four lanes fronting the Home Focus Pimpama site had created high connectivity and visibility from the M1 and a new link road through the project, named Nexus Drive, would further assist traffic flow in the area.
Artist’s impression of the $200 million large format retail development, Home Focus Pimpama.
CBRE’s Andrew Brimson and Sam Macgregor have been appointed as exclusive leasing agents for the project.
Mr Brimson said about 16,500sq m of tenancies in stage one had been pre-committed.
He said along with Bunnings and Guzman y Gomez, leasing deals had been struck with BP Australia, Wild Bean Cafe and Hype Health Club.
“We are into the expressions of interest phase to lease the balance of the stage one tenancies and have a number of national retailers interested in the centre,” Mr Brimson said.
“Given the significant residential development surrounding Home Focus Pimpama there will be a large number of households in the project’s prime catchment area, making for an extremely attractive and strategic location for major large format retailers.”
Baycrown is also in the process of planning a Home Focus-style project in Melton, Victoria.
https://bloorhomes.com.au/wp-content/uploads/2019/09/70509447_3056031701134887_7369230068146503680_n.jpg720960Lesley Bloorhttps://bloorhomes.com.au/wp-content/uploads/2017/11/Bloor-Homes-Property-Management-min.jpgLesley Bloor2019-09-14 22:02:122019-09-15 22:08:56REVEALED: Location of new Gold Coast train station
The Queensland state government has announced a $351 million commitment towards the next stage of the Gold Coast Light Rail that would connect the southern Gold Coast to the remainder of the line.
Stage 3A will extend the existing route by seven kilometres from Broadbeach South to Burleigh Heads and includes eight new train stations.
Premier Annastacia Palaszczuk expects it would take around three years to build Stage 3A, with the possibility of trams operating to Burleigh Heads by 2023.
But $709 million is needed to build the third stage. And what the Queensland government has announced is almost half, with the Premier calling on federal funding to increase its current $112 million commitment to the Gold Coast extension.
Palaszczuk says state government is “all aboard” to build the project’s third stage, but called for a “fair funding deal” from federal government to get the project on track.
The current commitment federal government has made to the Gold Coast project’s third stage is $112 million, or 16 per cent.
“What we’re asking the Morrison government to do is commit $269 million to the project which is the same proportion funding arrangement (38 per cent) they invested in stage one.
Stage 1 – The federal government committed 38 per cent of total costs.
Stage 2 – The federal government committed 22 per cent of total costs.
Stage 3A – The federal government has committed 16 per cent of total costs.
The prime minister is scheduled to be in Queensland this week for the Council of Australian Governments (COAG), where the premier says the two will discuss the project’s funding further.
In the five years since its first operation more than 42 million passengers have used the G:link service. During the Commonwealth Games more than one million tram trips were taken.
The third stage of delivery is expected to create 760 jobs during construction.
South-east Queensland could be green-lit for the biggest “city deal” in Australia, with a $58 billion proposal to guide its growth, and the prime minister announcing his support for the major plan.
With a focus on supporting diverse sectors within the region including housing and planning, tourism, manufacturing and education, the SEQ City Deal could also pave the way for government-owned land to be opened for development.
A $30 billion pipeline of private and public development will be rolled out on the Gold Coast over the next decade, putting paid to criticisms it would suffer a post-Commonwealth Games slowdown.
Nearly $20 billion in housing and apartment projects will meet the city’s ongoing growth, while a further $10 billion in public and private infrastructure is either underway or planned for the city post Commonwealth Games. Read more
https://bloorhomes.com.au/wp-content/uploads/2018/04/Gold-Coast-property-Management-Bloor-Homes.jpg8441496Lesley Bloorhttps://bloorhomes.com.au/wp-content/uploads/2017/11/Bloor-Homes-Property-Management-min.jpgLesley Bloor2018-04-10 22:05:482018-04-12 22:23:46What post-Commonwealth Games slump? Gold Coast to get $30 billion of development
https://bloorhomes.com.au/wp-content/uploads/2018/01/Thriving-Coomera-community-announces-new-school-to-be-named-after-Jesus’-foster-father.jpg330660Lesley Bloorhttps://bloorhomes.com.au/wp-content/uploads/2017/11/Bloor-Homes-Property-Management-min.jpgLesley Bloor2018-01-24 07:15:012018-01-29 01:04:02Thriving Coomera community announces another new school (set to open in 2019)
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