The Gold Coast office market is tighter than ever and we are clearing the way to change that.
News broke this week that construction has officially begun on ‘The Base,’ a new $70m office tower in Robina. While it’s great news for the city, the data accompanying the announcement highlights exactly why the Park Lane precinct is so critical for Southport.
The “Southport Shortage”
According to new figures from the Property Council of Australia, the Gold Coast’s office vacancy rate remains critically low at just 7.7%. But the real story is in Southport.
While the city has grown, the Southport CBD has actually seen a net reduction of approximately 16,000sq m of office space since 2010, largely due to older commercial buildings being demolished for residential-only towers.
As CBRE’s Tania Moore noted in the Gold Coast Bulletin:
“As the Gold Coast continues to experience strong population and employment growth, additional office supply will be required… isolated projects alone are unlikely to materially rebalance market conditions.”
This supply constraint is exactly why we are so committed to delivering a world-class mixed-use precinct. Park Lane isn’t just about luxury living; it’s about bringing A-grade commercial capacity back to the heart of the CBD, where it is needed most.
Site Update: Demolition in Full Swing
While the market talks about the need for space, we are busy making room for it.
Momentum on site has accelerated significantly this week. Demolition is now actively underway, with most of the external walls already removed. Our team is currently focused on the safe and efficient removal of asbestos, ensuring the site is perfectly prepped for the transformative construction phase ahead.
It is exciting to see the old structures coming down to make way for a new era in Southport.
Stay tuned for more updates as we clear the site and prepare for the next stage.
