It is an exciting week for One Park Lane and the broader Gold Coast region. As we move forward with significant works on-site, new data has emerged confirming that the Gold Coast is currently the fastest-growing economy in the country – validating the timing of our development in this thriving market.
Gold Coast Economy: Outperforming the Capitals
Fresh figures released this week in the Gold Coast Bulletin have revealed that the Gold Coast is officially growing faster than any capital city in Australia.
According to Council CEO Tim Baker, the city’s Gross Regional Product (GRP) surged by 15.1% between 2021 and 2024. To put that into perspective, the Gold Coast is growing at nearly double the pace of Greater Sydney, which recorded just 7.3% growth over the same period. Canberra was the only capital city to come close, yet still trailed behind our region.
A Shift to “Sustained Growth” Perhaps most important for our investors is the nature of this growth. The Gold Coast has successfully transitioned away from a “tourism-only” economy. While tourism remains vital, it is no longer in the top three economic drivers.
Instead, the city is now powered by:
Construction: Now the #1 economic driver, injecting $4.5bn annually.
Health & Knowledge: Contributing $4.3bn annually.
Education & Creative Industries: Rapidly expanding sectors.
Mr. Baker noted that this diversification is moving the city away from the traditional “boom and bust” cycles of the past, towards a “long, sustained state of growth.”
With the “knowledge economy” booming and major infrastructure investment continuing, One Park Lane is perfectly positioned to cater to this sophisticated, contemporary market.
Site Update: Demolition Underway
Consistent with this regional growth, activity at One Park Lane is ramping up.
We are pleased to confirm that demolition of the existing property on Site 1 is now in progress. This is a major step forward in clearing the site to pave the way for our vision.
Safety & Compliance As part of the demolition process, we are currently managing the safe removal of asbestos found within the older existing structure.
This process is being handled by licensed abatement specialists.
We are adhering to strict safety protocols to ensure the site and surrounding environment remain safe.
Once cleared, the site will be fully prepped for the next stage of construction.
We look forward to sharing photos of the cleared site in our next update.
Looking Ahead
The combination of record-breaking economic performance in the region and our tangible progress on-site sets a strong tone for the year ahead. The Gold Coast is no longer just a holiday destination; it is an economic powerhouse, and One Park Lane is right at the center of it.
Stay tuned for further updates as we progress through the demolition phase.
