Glitter Strip is a ‘landlord’s market’
THE heart of the Glitter Strip is an owner’s market, leasing specialist Ryan Chandler says as he moves into sales.
Mr Chandler who spent four years with Ray White before joining JLL in a similar role for the past 12 months said good sites in Surfers Paradise and Broadbeach were at a premium and hard to find.
“When a good position goes vacant you almost don’t have to put it on the market,” Mr Chandler said.
“You just say ‘These are the terms of the site, now qualify yourself that you are the best person for this’.
“I have never seen it like that and I’ve been in the industry a few years. It doesn’t matter right now if tenants are coming in with the right terms — it’s about having the right concept and the right experience. That’s what the owners are looking for.”
Mr Chandler is joining Colliers International in Surfers Paradise as an executive focusing on retail sales and investment services.
“On my way out of the leasing game, the general feedback is the vacancy market has dried up and there is not as much out there for good operators. But there are good operators wanting to get in — I left with a backlog of really good operators wanting to get into prime sites in Surfers Paradise and Broadbeach,” he said.
“It is so much in the owners’ favour now whereas two or three years ago landlords were giving away tenancies.”
The downturn in demand several years ago was in part due to the disruption of the light rail construction but the market had bounced back strongly particularly with the expectation of a boost to the city’s profile after the Commonwealth Games in April next year.
“People are trying to get in and get established before the boom in activity and followthrough from that global exposure.
“If the right position pops up and you’re a business operator considering doing something it is a good time to get into it — we’re coming into the warmer months, business picks up, the Games are coming.”
His assessment comes a month after local leasing agents, him included, reported a lack of prime stock to service demand from hospitality operators champing at the bit to enter the Gold Coast, with inquiries coming in fast from those who would normally consider Sydney, Melbourne and Brisbane.
Decorated restaurateur Adam Dundas-Taylor and wife Katharina, who opened Fire Cue at Nobby Beach late last year, said they took a long time to find their bolthole and rents in prime Coast locations were rivalling Sydney.
Mr Chandler is starting in a new role with Colliers International in Surfers Paradise focusing more on the sales side as an executive looking after retail sales and investment services