Gold Coast office
The Property Council
of Australia’s latest Office Market Report, released today, reveals an increase
in Gold Coast office vacancy to 12 per cent over the last six months.
Queensland Executive Director for the Property Council of Australia said, the
1.4 per cent increase in vacancy rates over the first half of 2018 has been
caused by a combination of one significant tenant movement and the addition of
“This result can be
attributed to an additional 3,000sqm of B Grade stock coming online, as well as
a significant tenant move in Robina.” said Mr Mountford.
“With minor supply
additions coming online in the second half of 2018 and no new space due to come
online from 2019, the Coast will have the opportunity to work through the
remaining vacant stock over the coming year.
“Currently, there are a
number of tenant EOIs in process. These deals are expected to be captured within
the next report and will restore vacancy trends to the healthy levels we have
witnessed over the last two years.
specific areas, vacancy has decreased in both Surfers Paradise and Bundall. Broadbeach
has performed particularly well this period, recording both positive demand and
low vacancy at 4.40 per cent,” concluded Mr. Mountford.
Chris Mountford| M 0408 469 734 | E firstname.lastname@example.org