The Gold Coast suburb of Palm Beach has been achieving healthy results in the commercial market, allowing it to stand out from the rest of the region.

Data from Gold Coast Cityscope shows property sale numbers and figures remained generally steady in the three months to June, with 38 sales for a total of $192.2 million.

Of this, $23.1 million was for commercial, $36.7 million was for commercial strata, $500,000 was for retail, $4.2 million was for retail strata and $127.8 million was for other. 

These included 1383 & 1385 Gold Coast Highway for $2,795,000, 28 Palm Beach Avenue for $3 million, and 1/16 Seventh Avenue for $570,000, all situated within Palm Beach.

There has also been consistent leasing activity within the suburb throughout 2019, with Ray White Commercial GC South overseeing a mix of office and retail deals.

Commercial Sales and Leasing Consultant Tara Imlach said Palm Beach was proving to be a "special pocket" of the Gold Coast not easily influenced by the surrounding suburb markets.

"We are seeing healthy leasing rates and commercial sales value," she said.

"Commercial buyer interest and demand is higher than the current supply resulting in record-breaking sale prices and levels of enquiry."

Senior Commercial Sales & Leasing Executive, Greg Watson, said retail hub of Palm Beach was a popular place to be at the moment.

 "Food and fine dining have become in high demand for the area and its customers," he said.

 1/16 Seventh Avenue. Source: Ray White Commercial GC South

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