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QLD: South of Gold coast is the emerging retail hotspot

7Mo ago 0 Replies 244 Views
Retailers are flocking to the southern Gold Coast, which is offering lower rents and a more consistent retail spend from residents than traditional shopping hubs such as Broadbeach and Surfers Paradise.
An extension of the light rail network, which is expected to open in 2023, would further bolster the area’s popularity, experts say.
Tanaka Jabangwe, Knight Frank’s associate director retail leasing, said the southern Gold Coast was where the action was happening, with demand from retailers heating up.
“The retail strips in the southern Gold Coast market between Mermaid Beach through to Palm Beach are experiencing the lowest vacancy rates; however, this is partly due to a high level of demand from retailers versus the limited supply of quality stock,” he said.

The southern Gold Coast suburb of Palm Beach has a retail vacancy rate of just 4.38 per cent, according to Ray White.
Mr Jabangwe said the strong demand was partly due to the perceived affordability of rents compared with the historical retail precincts of Surfers Paradise and Broadbeach.

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