The Gold Coast’s commercial real estate market demonstrated resilience and growth across various sectors in 2024, driven primarily by population growth, infrastructure developments, and evolving economic conditions.

Throughout the year, some clear opportunities and trends emerged.

Among them was a shift to alternative investments – such as self-storage, childcare centres and healthcare – by smaller private and family investors attracted by diversification and the potential for more lucrative returns than traditional sectors.

The Gold Coast office market tightened, with vacancy rates dropping to some of the lowest in Australia. The decline was attributed to robust demand and limited new supply, particularly in key areas of the Coast. The scarcity of quality office space led to increased competition among businesses seeking to establish or expand their presence in the region.

The retail sector remained strong this year, surpassing national growth rates off the back of steady population growth and a resurgence in tourism, while limited new supply maintained upward pressure on rents. An emerging trend was the rise of ‘destination retail centres’ that offer a more resort-style shopping experience. Driven once again by a rise in population and higher average incomes, these assets proved appealing to investors for their high level of security once offered to market.

The industrial and logistics sector was a standout performer throughout 2024. Vacancy rates remained below historical levels, driving rental prices up. However, there was a notable shortage of large-format industrial spaces in central Gold Coast areas. This scarcity made it an attractive sector for investors drawn by strong rental growth and low vacancy rates.

The Kollosche Commercial team was able to capitalise on these trends delivering a number of good sales throughout the year. Here are their top four:

210 Marine Parade, Labrador
This site consisted of a walk-up timeshare building formerly trading as the “Golden Shores Holiday Club” and accommodating 16 units and a managers’ unit. Sold with vacant possession, the block has DA approval for a 25-level development comprising 85 apartments.
Enquiries: 109
Offers: 5
Sale price: $8,750,000

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2182 Gold Coast Highway, Miami
This was a 2,429m2 mixed-use site with double street frontage and a holding income. It also had DA approval for a brewery and 10 industrial units
Enquiries: 122
Offers: 2
Sale price: $8,050,000

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28 Hamilton Avenue, Surfers Paradise
This was formerly a backpackers’ hotel with 24 ensuite rooms plus a two-bedroom manager’s residence across a three-storey building with 12 car parks and communal amenities.
Enquiries: Off-market
Offers: 2
Sale price: $6,900,000

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292 Marine Parade, Labardor
A classic brick-and-tile waterside home on a 556m2 block, this property was appealing to both developers and residential buyers for its position and potential directly opposite the Broadwater.
Enquiries: 70
Offers: 27 bids made at auction
Sale price: $3,060,000

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The commercial market is expected to continue to strengthen heading into 2025, however, challenges, such as limited supply and construction constraints will continue to affect some sectors. Stakeholders should remain adaptable to market the changing dynamics to capitalise on emerging opportunities.