Live Gold Coast, Live SEQ | 5 min read

Gold Coast 2020 – Major Infrastructure Round-Up

Deon Calder
Deon Calder
22/01/20

The sixth-largest significant urban area in Australia, the Gold Coast boasts the fastest growing level of economic output in the nation. Over $25 billion in infrastructure investment will continue to transform the region into a globally competitive city dedicated to business and employment growth for at least the next decade.

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

The Gold Coast Health and Knowledge Precinct (GCHKP) is an emerging health and innovation hub scheduled for completion in 2030. The 200-hectare precinct is a unique global business location for high-tech industry development, research collaboration, and jobs of the future. Supported by $5 billion in infrastructure, including a world-class university and two major hospitals, the Precinct is a new way ahead for Australia’s leading lifestyle city.

The GCHKP is already home to the world-class Griffith University, the Gold Coast University Hospital, a major Australian teaching hospital, and the cutting-edge new Gold Coast Private Hospital. The Precinct offers a uniquely dynamic, collaborative environment for global health and knowledge companies, and organisations to invest, cluster and grow.

Southport CBD Rejuvenation | $5 billion

With the highest concentration of employment and the most populated centre on the Gold Coast, the Southport CBD is undergoing an exciting period of transformation with more than $5 billion worth of public or private investment providing a solid foundation for sustained future growth. An integral part of the development is Gold Coast’s Chinatown with a $6.8 million investment to renew the popular precinct.

M1 Pacific Highway Upgrade | $1 billion

As part of the Queensland Government’s $6 billion commitment to upgrade South East Queensland’s major road and transport networks in 2020, the M1 Pacific Highway will receive a $1 billion injection that will deliver over 700 jobs. The upgrade includes provision for a future rail corridor and will ease congestion, shorten travel time, and ensure the region can cater for future traffic growth.

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 Light Rail | $1.6 Billion

Once complete, this city transforming initiative will deliver a world-class transportation system while increasing development and investment opportunities along its corridor. Creating 760 jobs, the $712 million Stage 3A from Broadbeach to Burleigh Heads is currently in construction and expected to open in 2021. Further to this, as part of the Gold Coast’s 2032 Olympic Games bid, the light rail extension the Airport is also being accelerated.

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.

 

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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.