Spotlight Hits Gold Coast Health and Knowledge Precinct
Real estate investment in the health and science sector is booming, with the Gold Coast Health and Knowledge Precinct (GCHKP) space seeing significant demand to meet the specialist needs of the industry.
The Queensland Government’s 9.5ha Lumina development comes to the fore as the latest available development space in a neighborhood driven by healthcare innovation, new knowledge and new technologies. generation.
Investment opportunities in this sector are further enhanced when these properties are located within a community of expertise and infrastructure, as is the case at GCHKP, the emerging healthcare and innovation hub. in Asia-Pacific.
Lumina is at the heart of GCHKP and is dedicated to diversifying the Gold Coast economy and creating the knowledge jobs of the future.
GCHKP is already a hotspot for AI, biotech, and drug and vaccine development
The GCHKP location provides a unique opportunity for its occupants to create collaborations between the hospital and the healthcare community, researchers and industry partners.
It is quickly becoming a prime location for biotech development, clinical trials, and entrepreneurial HealthTech start-ups.
Key investment areas within GCHKP include Artificial Intelligence (AI), Machine Learning and Robotics, Biotechnology (drug and vaccine development), Medical Imaging, Wearables and Diagnostics, health software and integrated health care and medical technology.
There is a pipeline of drugs, vaccines, diagnostics and other technologies available for partnership at the compound’s world-class research institutes, including Griffith University and the Institute for Glycomics.
Several technological applications are already associated, including in human clinical trials.
Most recently, in August this year, the ACRF International Center for Cancer Glycomics officially opened a state-of-the-art facility for cancer research, the first of its kind in Australia.
Global health technology leader Philips joins new GCHKP collaboration
Global life science and technology leaders are already seeing the opportunity in Lumina.
One of the world’s leading health technologies, Philips, announced in August its partnership to create a center for research and advanced medical training within Lumina.
The latest image-guided therapy technology from Philips will support the training of specialist physicians across Asia-Pacific and launch new precision approaches in a wide range of clinical areas.
Led by interventional neuroradiologists Dr Hal Rice and Dr Laetitia de Villiers, from Gold Coast University Hospital, the facility will showcase Philips interventional solutions and test new technologies such as artificial intelligence (AI), robotics and new models 3D printed anatomy.
The next wave of development and leasing opportunities is growing in key industries
The investment boom seen in the healthcare and life sciences sector has resulted in increased demand for a wide range of existing and upcoming leasing opportunities within GCHKP. Hotspots of rental opportunities are observed in the following high growth areas:
Childcare and specialized services
Annual child care sales volume has skyrocketed in recent years, and real estate investment trends reports from Real Capital Analytics (RCA) show consecutive “record years of growth” since 2018.
It is estimated that there are over 80,000 children (aged 0-9) currently living on the Gold Coast, with an expected growth of 34% by 2041, but over 60% of this growth is expected to occur in the northern part of the Gold Coast.
Not only will this open up a great opportunity for growth in child care in this northern region, as GCHKP is the primary healthcare hub, but there will also be a significant opportunity for organizations providing services for the needs health and child care.
Proxima will open soon, a development focused on these services and child care. It will offer a mix of childcare and pediatric health services and will include space available for medical, paramedical, developmental support, education and pediatric research organizations.
Rental opportunities are currently engaged for child care organizations as well as organizations that support pediatric health care, education and research.
Specialized Research and Development (R&D) and Life Sciences
While there is strong demand for life science properties, the most robust demand is for more specialized facilities such as research and development and laboratory spaces, according to property research firm JLL.
However, the competition for these spaces is fierce, with international interest and significant challenges in finding the required spaces.
Life science organizations, researchers, and entrepreneurs looking to conduct specialized research and development are already embracing the world-class options within Lumina, including Griffith University science labs and technical and Bespoke lab within the Queensland Government’s Cohort Innovation Space.
Since Cohort opened in 2019, the space available for tenants wishing to join the Cohort community, which is home to health, medical and technology companies, innovative thinkers, startups, SMEs and researchers , has been invaluable.
A recent extension has made available eight additional private offices for three to 12 people.
Medical office spaces
Medical practice spaces also represent a great opportunity, with growth in investment in medical practices outpacing office and mixed-use retail.
With higher yields, longer term tenants and the perception of a ‘defensive’ asset for portfolios, demand for development exceeds supply in Australia.
For potential tenants considering the rental of medical space, the ideal positioning is in communities with high population growth, close to relevant institutions (such as public and private hospitals) easily accessible by the community.
Lumina is the latest opportunity to secure prime development space or find commercial medical office space to rent, within GCHKP, which contains the Gold Coast’s two main hospitals.
Elderly care
The Australian government projects that 76,000 new residential aged care facilities will be needed by 2023-24 due to high demand and unmet need for aged care services. With an aging population, as well as significant government investment committed following the Royal Commission on Aged Care, this is a secure growth area for developers, investors and services.
Beyond new aged care facilities, there are opportunities for organizations that provide support, training and innovation services for the aged care sector – such as paramedic and attendant service providers , hospitality services and technology innovators – and for those who rent space or invest in new developments to meet them.
Inquire About Securing Space at Lumina Today
All inquiries regarding land purchase opportunities and rental opportunities in current and upcoming developments can be made through the inquiry form on the Lumina website.
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