The transformation of Surfers Paradise from a laid-back beach town into Queensland’s most dynamic commercial hub reads like a masterclass in urban evolution. While other coastal destinations like Noosa and Port Douglas have maintained their boutique appeal, Surfers Paradise has emerged as a powerhouse of economic growth, wielding a magnetic pull for global brands and institutional investors alike.

The numbers tell a compelling story. The Gold Coast’s $40 billion economy now rivals that of major regional centres like the Sunshine Coast ($19.5 billion) and Townsville ($15.5 billion), with Surfers Paradise at its beating heart. Tourism expenditure has soared to $7.8 billion in 2024, marking a remarkable 31.1% increase over pre-pandemic levels. This growth outpaces other Queensland tourism hotspots, with visitors spending more per capita in Surfers Paradise than in comparable destinations.

The area’s transformation is perhaps best exemplified by the recent arrival of Wendy’s, the global fast-food giant, which chose the iconic Cavill Avenue for its Australian comeback. This strategic decision speaks volumes about Surfers Paradise’s evolution into a premier retail destination. Cavill Avenue, with its fusion of international brands and local favourites, has become Queensland’s answer to Melbourne’s Chapel Street or Sydney’s Pitt Street Mall, commanding premium rents and attracting global retail heavyweights.

Population growth tells another compelling chapter of this story. The Gold Coast’s annual growth rate of 2.3% exceeds the Queensland average of 1.8%, driving unprecedented demand across all property sectors. Since 2020, property values in Surfers Paradise have skyrocketed by up to 92%, outperforming even Brisbane’s sought-after inner-city suburbs.

Infrastructure investment has played a crucial role in this transformation. The Light Rail network, which rivals Brisbane’s Metro system in scope and impact, has revolutionised connectivity throughout the Gold Coast. These improvements have catalysed a wave
of high-density, mixed-use developments that are reshaping the skyline and creating new opportunities for commercial tenants and investors alike.

The commercial property market reflects this evolution. Prime retail spaces in Surfers Paradise now command rents comparable to Brisbane’s CBD, while maintaining stronger growth trajectories. The scarcity of premium commercial space has intensified competition among national and international brands, driving yields to historic lows and capital values to new heights.

Looking ahead, the growth story shows no signs of slowing. The expanding population continues to drive investment across the market, with retail and fast food operators securing strategic locations at unprecedented rates.

The childcare sector has responded to growing demand with occupancy rates now exceeding 95%, while healthcare providers are establishing flagship facilities to serve the burgeoning population. The hospitality sector continues to thrive, with venues reporting record occupancy rates and strong forward bookings that affirm the region’s enduring appeal.

For commercial property investors, Surfers Paradise offers a rare combination of established success and future potential. The precinct has successfully balanced its tourist appeal with genuine economic diversity, creating a resilient market that performs strongly through economic cycles.

This sustainability is underpinned by a permanent population base that supports year-round business activity, direct access to international markets through the Gold Coast Airport, and a diverse economic base spanning tourism, education, healthcare, and technology sectors. The continued infrastructure investment provides a solid foundation for long-term growth.

The evolution of Surfers Paradise from tourist destination to economic powerhouse has created something uniquely valuable for investors: a proven growth market with substantial upside potential. The combination of strong underlying fundamentals, continued population growth, and infrastructure development suggests that this paradise for investors is far from reaching its peak.

With its stunning coastal setting and dynamic urban core, Surfers Paradise stands as a testament to successful urban development and a beacon for commercial property investment in Queensland.

Portfolio Magazine