Retail on the fast lane along the M1
Commercial construction on the rise.
RETAIL activity is in the fast lane along the M1 motorway corridor in the Gold Coast’s booming northern suburbs.
Pimpama City is among the new wave of construction adding tens of thousands of square metres of retail space to the top end of the tourist strip.
Under construction on an 18ha site on Pimpama-Jacobs Well Rd at Pimpama, the shopping centre has already secured leases for 75 per cent of its retail tenancies.
Coles and Aldi supermarkets will anchor the 12,500sq m first stage of the centre, due for completion later this year.
The project is the largest undertaken by Rix Developments , headed by veteran Gold Coast property figures Norm Rix and his son Greg.
Coles Express and Zarraffa’s Coffee have already started trading, while a new 24-hour car wash is only weeks away from opening.
Mr Rix said his family would retain the property on completion as a long-term investment , with plans to develop further stages over the next three years.
“There’s been tremendous growth in this part of the Gold Coast over the past couple of years and we believe the best is yet to come,” he said.
COMMERCIAL property construction across the country has surged with a 13 per cent rise in non-residential building approvals recorded over the 12 months to April 2018, according to the Australian Bureau of Statistics.
Master Builders Australia chief executive Denita Wawn said the rise in commercial building — including the construction of offices and new facilities in the education, health and aged care sectors — was a major driver of jobs growth.
“In the past year alone the industry created more than 100,000 new skilled jobs, accounting for more than one in every four new jobs created,” she said.
“That means employment growth in building and construction was 9.6 per cent, three times the rate of jobs growth in the wider economy.”
According to the ABS the number of residential building approvals rose 1.9 per cent.
Original News story from the Courier Mail - Friday, 1 Jun 2018 - Page 60