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Despite the Global Financial Crisis, Varsity Lakes is still on track to become the Gold Coast’s next CBD.
According to the Domain Suburb Profile, Varsity Lakes has an 18 percent higher rental proportion than the rest of the Gold Coast.
In an interview for Foresight Magazine, University of Toronto Professor and one of the leading social and economic theorist Richard Florida, said rent was the future of the city.
A potential Varsity Lakes tenant Matt Carter who is looking to invest in a new computer business said the main reason for investing in the area was its close proximity to Bond University.
"[Rental prices in the area are] pretty low at the moment, mainly because there are a few shops unallocated," Mr Carter said.
Mr Carter said no other area on the Gold Coast really compared to Varsity Lakes because of the lake and other “funky looking buildings”.
In a November 2008 report by Savilles Resarch Australia, it was reported that Varsity Lakes had the second highest office precinct on the Gold Coast and created more than one job a day.
A bakery manager who has been in Varsity for two years, Mashion Yang said during this time he had seen the area’s population increase.
"I was attracted to Varsity Lakes because it was new and more people are moving here every day," he said. |