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The managing director of a multinational property group says a number of key drivers are aligning Sunshine Coast’s commercial market for a period of major growth.
CBRE’s Rem Rafter said while some areas of Queensland have been impacted by the mining investment downturn, the Sunshine Coast has a diverse economy that supports strong employment levels and subsequent population growth.
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“The Sunshine Coast is one of Queensland’s fastest evolving regions, with new developments such as the airport expansion and new Sunshine Coast Public University Hospital attracting more people and investment opportunities,” he said.
“The new Maroochydore City Centre will deliver around a 240,000-square-metre commercial footprint to the region, in addition to 2,000 residential dwellings and a five-star hotel.”
Mr Rafter said privatisation of the Sunshine Coast airport would help drive enormous growth in the region, with the potential to bring two million passengers to the region each year.
“Of the four major projects which could drive this region forward, the airport expansion has the most potential to attract visitors,” he said.
CBRE research manager Craig Godber noted that over the medium to long term, the local economy will benefit as the Queensland economy realigns away from its recent resource-based engineering construction focus.
[Related: Four states home to property hotspots]
