The Northern Gold Coast is part of the City of Gold Coast and is known as the northern growth corridor.
It centres around the suburbs of Pimpama and Commera.
The city is rapidly emerging as a thriving metropolitan city with a dynamic business and cultural scene.
By 2045, the Gold Coast is forecast to reach one million people, with the biggest growth in Coomera, Pimpama, Surfers Paradise, Southport North and the Upper Coomera-Willowvale areas.
Given its central geographic location and high proportion of families, children and young people, the Northern Gold Coast is ideally placed for continued growth.
LOCATION: Positioned in the northern growth corridor with direct access via the M1 to Brisbane in the north.
COOMERA TOWN CENTRE: The $1 billion retail, business and entertainment precinct has provided a major boost to the area.
RAPID DEVELOPMENT: Major features in the area include theme parks, education institutions, marinas, parks, shopping centres, entertainment precincts, schools and heavy rail.
PROPERTY PRICE GROWTH: The median house price in Coomera is $535,000 and the median house price in Pimpama is $461,000.
RENTAL GROWTH: Median rental yields for housing in the Northern Gold Coast are increasing in momentum, currently at 4.47% for Coomera and 4.91% for Pimpama.
ECONOMIC OUTLOOK
COOMERA TOWN CENTRE
The Gold Coast produces a Gross Regional Product (GRP) of $35.24 billion.
The city’s key industries include healthcare and social assistance, construction, retail trade, accomodation and food services, education and training, and manufacturing.
The Gold Coast tourism and residential market continues to drive economic growth and support demand for retail activity.
Low regional unemployment, population growth and consistent net interstate migration is supporting the retail activity and demand for future retail centres.
The $470 million first stage of the Coomera Town Centre opened late last year and according to developer Scentre Group, the project created almost 7,500 jobs during construction and in retail on completion
The Coomera Town Centre has provided a major boost to the area, providing job growth and establishing Coomera as a major retail and entertainment destination.
Home to 140 retail stores, the 59,000 sqm centre features cinemas, casual dining and entertainment offers, fashion and lifestyle stores and a market-style fresh food precinct.
As a major activity centre, the Coomera Town Centre will serve a catchment of regional significance and accommodate key concentrations of employment and a significant residential population.
RAPID DEVELOPMENT
As host city of the 2018 Commonwealth Games, the Gold Coast embraced transformative civic projects like never before, and continues to do so.
The Federal Government has highlighted the upgrade of the M1 between Tugun and Eight Mile Plains as a High Priority initiative, in order to facilitate population and employment growth in the region.
The Federal Government has currently committed $500 million to upgrading the M1.
The Gold Coast has a $30 billion infrastructure and development pipeline scheduled over the next decade, which will continue to create new opportunities for entrepreneurs, business owners and investors.
The $370 million expansion of the Gold Coast Airport is set to begin works in the coming months.
The new three-level terminal, including aerobridges, will be built to the south of the current terminal.
The new terminal will double the floor area of the existing terminal and offer more flexibility for domestic and international services.
Stage 3A of the Gold Coast light rail will bring it one step closer to the Airport, with the route linking Broadbeach to Burleigh Heads.
The Federal Government has promised $112 million for this next stage, with works set to begin later this year.
The tramline is expected to take its first passengers in 2021 or early 2022.
To the City’s north, the Yatala Enterprise Area (YEA) is set to provide more than 5,000 jobs and bring more than $1 billion to the local economy once complete.
The YEA is a value-adding manufacturing region with businesses in food and beverage, construction materials, machinery and equipment, plastic and chemicals, warehousing, transport and distribution.
The Gold Coast Marine Precinct is set to receive a $200 million capital injection from two major expansion projects.
The Gold Coast City Marina has announced a doubling of its existing 17ha facility, which will boost the facility’s existing re-fit capacity by 400%, while the nearby The Boat Works slip yard and marina is expected to transform into a state-of-the-art marina that will offer dining and retail facilities.
The expanded marine precinct is expected to create an additional 2,000 jobs in the Gold Coast’s booming northern suburbs.
New convenience and retail shopping centres are also delivering amenities to meet the needs of the burgeoning population in the area.
The Coomera Town Centre development has created thousands of jobs and provided unprecedented retail opportunities to the north.
The $100 million Pimpama City Shopping Centre opened its doors late last year and is expected to create more than 400 new jobs.
INFRASTRUCTURE AND DEVELOPMENT AT A GLANCE
- $500 million M1 Motorway upgrade
- $370 million expansion of the Gold Coast Airport
- $600 million Stage 3 of light rail
- $1 billion boost from the Yatala Enterprise Area
- $200 million capital injection to the Gold Coast Marine Precinct
- $470 million first stage of the Coomera Town Centre development
- $100 million Pimpama City Shopping Centre development
- $56 million Northern Gold Coast Sports and Community Precinct
