Businesses face squeeze as Gold Coast office space vanishes from the market
The Gold Coast faces an office space crisis with more buildings disappearing than being built, leaving businesses scrambling for the limited quality space that remains.
The Gold Coast has lost more office space in the past decade than it’s gained, with new data revealing the true scope of the tightness gripping the market.
Figures compiled by Colliers Gold Coast show an average of 4200sq m of office space has disappeared annually since 2015, while around 3400sq m has been added.
Colliers director Steven King said this had directly led to vacancy rates dropping from 14.8 per cent a decade ago to 7.5 per cent today.
“The Gold Coast’s office market is becoming tighter because office space has been removed faster than new space has been added over the past 10 years,” he said.
“With other projects on hold, limited supply is increasing competition and pushing rents higher, especially for high quality offices.
“The trend has been evident for some time, but our latest research shows the extent of the decline and its impact on the Gold Coast office market, particularly A-grade space which is highly sought after.
“It’s representing significant challenges for existing Gold Coast businesses looking to expand due to the strength of local business conditions and for those new businesses looking to gain a foothold into the local market.”
The Colliers data, which looks back at the market across 2025, shows 2025 has experienced strong sales.
More than $141m worth of office property has changed hands this year, a 135 per cent increase from 2024.
The biggest sale, which made up the bulk of the value, was Gold Coast City Council’s $109m purchase of the Bundall Corporate Centre.
Only one major project – the under-construction V and A towers in Broadbeach — contains office space, with around 5500sq m coming on to the market in 2028.
Colliers leasing director Bede Blatchford said Gold Coast rents had increased by between six and eight per cent in the past year.
“In contrast, older areas such as Southport have seen slower rent growth, widening the gap between newer and ageing office buildings,” he said.
“Of course, refurbished office properties in these areas are attracting above-average rents and we’re seeing an increase in investment activity as a result.
“Inquiries have been driven by improving investor sentiment, strong leasing activity and rising rents.
“Private investors and owner occupiers are particularly active, looking for long-term value in a tight market.
“High construction costs continue to make assets priced below replacement cost attractive, but overall transaction volumes remain limited due to few available opportunities.”
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Originally published as Businesses face squeeze as Gold Coast office space vanishes from the market
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