Major growth in commercial gains

Boisterous commerical property market comparable to major city growth

THE Gold Coast's steady population growth and broad range of infrastructure means it can now 'mix it' with the major cities in commercial property, says commercial property financier Balmain Commercial.

Directors George Vazey and Noel Pennell say the commercial property market continues to be boisterous, as it gains momentum with investment and acquisitions reamain strong.

"The Gold Coast is a desirable location with well-established businesses driving the economy and spurring investor confidence in commercial property," says Mr Pennell.

"A continuing market trend for active investors is to acquire under-developed and under-performing properties, refurbish and then put them on the market for lease and/or resale," he says.

"Interest rates also remain favourable to the investor, with longer-term fixed rates holding steady as a good sign for the future. Lease rental rates for quality property continue to hold firm and increase in line with the growth of the business sector.

"A range of new office blocks are making their way to the market place, providing a diversity of location, rental rates and owner-occupier strata acquisitions."

Balmain Commercial is one of Australia's largest commercial mortgage originators and managers, with more than $3 billion in settled loans annually and a total loan book exceeding $6 billion under management.

George Vazey, who founded Balmain Commercial Gold Coast nine years ago, says commercial property is tightly held, particularly in Southport and Robina.

"We expect this demand to continue into 2007, as an increasing number of investors look to the commercial property market as a sound investment option," he says.

Help us deliver quality journalism to you.
As a free and independent news site providing daily updates
during a period of unprecedented challenges for businesses everywhere
we call on your support

How communications technology can raise the bar on customer service, employee experience
Partner Content
From capturing feedback early to providing messages with a higher rate of cut-through, ...
Advertisement

Related Stories

G'day space: Australia is "go" for launch

G'day space: Australia is "go" for launch

Just after midnight on Monday 27 June, above the vast wilderness of...

Gold Coast’s Stacked Farm to take vertical growing project national with $56m raise

Gold Coast’s Stacked Farm to take vertical growing project national with $56m raise

Stacked Farm is looking to expand its automated vertical farming mo...

QLD to launch Star Entertainment review in July as former judge appointed to probe casino operator

QLD to launch Star Entertainment review in July as former judge appointed to probe casino operator

Casino operations that account for more than half of The Star Enter...

Origin slapped with $17m fine for failing to protect vulnerable customers

Origin slapped with $17m fine for failing to protect vulnerable customers

Australian energy giant Origin Energy (ASX: ORG) has today been ord...