MARKET INSIGHTS - INDUSTRIAL
VARSITY LAKES
PROUDLY PRESENTED BY
James Mulholland + Jacob Wallace COMMERCIAL DIVISION
Ray White Tugun Commercial: Varsity Lakes Industrial Market Insights
GOLD COAST COMMERCIAL: A MARKET ON THE RISE FROM THE DESK OF JAMES MULHOLLAND & JACOB WALLACE
As we move through 2026, the Varsity Lakes industrial property market continues to demonstrate its strength, resilience, and long-term appeal. The past year has validated much of the optimism seen heading into 2026, with consistent demand for premium warehousing and sustained confidence from both owner-occupiers and investors. Varsity Lakes has rapidly proven itself as one of the Gold Coast’s most tightly held and soughtafter industrial precincts. Industrial assets remain standout performers throughout 2026, underpinned by nearhistoric low vacancy rates and strong leasing enquiry. This sector remains highly competitive, with limited supply driving firm rental growth as demand from trade, logistics, and service-based businesses continues to outpace availability. The cutting-edge 8 Stapley Drive development perfectly illustrates this demand; featuring 14 modern, high-clearance mixed-use warehouse spaces just 500m from the train station, the complex achieved a rapid 100% sell-out, underscoring the immense appetite for premium facilities with immediate M1 motorway access. Looking ahead beyond 2026, fundamentals across the Varsity Lakes industrial market remain compelling. Whether you are a business owner securing a highly connected base, an investor targeting resilient income streams, or a developer assessing future state-backed land activation opportunities, Varsity Lakes continues to offer a compelling commercial proposition. Stay tuned as we continue to share market insights, transactional activity, and emerging opportunities across this tightly held precinct.
James Mulholland
Jacob Wallace
0431 307 129
0401 208 979
james.mulholland@raywhite.com
jacob.wallace@raywhite.com
Ray White Tugun Commercial: Varsity Lakes Industrial Market Insights
MEET THE COMMERCIAL TEAM
JAMES MULHOLLAND
JACOB WALLACE
COMMERCIAL SALES & LEASING
COMMERCIAL SALES & LEASING
Since moving to the Gold Coast to attend university
Jacob is known for being genuine, honest and
8 years ago, James has worked in the sports
solutions-focused. He takes pride in understanding
management landscape with a customer service and
each client’s individual goals and tailoring his advice
membership sales role at the Gold Coast Suns prior to
accordingly. His strong communication and
pursuing a career in Real Estate. Having had an
organisational skills allow him to confidently navigate
interest in the Real Estate industry for many years,
the complexities of commercial sales and leasing,
James took the plunge with a career change after
maintaining a calm and professional demeanour
receiving what he felt was below average service from
throughout every campaign and negotiation.
an agent when purchasing his first home. Jacob graduated from Queensland University of Since then, James has been working tirelessly to make
Technology with a Bachelor of Property Economics,
his mark on the industry on the Southern Gold Coast.
majoring in Urban and Regional Town Planning.
James is results driven and has an unwavering
Before joining Ray White, he worked with JLL across
enthusiasm for both people and property, known for
South East Queensland, gaining extensive experience
always going above and beyond to exceed
in managing and completing projects for a large and
expectations and make your property management
diverse range of commercial assets.
experience seamless. 0431 307 129
james.mulholland@raywhite.com
0401 208 979 - jacob.wallace@raywhite.com
MIA RODOREDA
ZOE PERRY
TUP CURTIS
COURTNEY PARKES
COMMERCIAL ASSET MANAGER
SALES SUPPORT
OPERATIONS & EA TO COURTNEY TYMON
PRINCIPAL
Ray White Tugun Commercial: Varsity Lakes Industrial Market Insights
Varsity Lakes Relevant Sales INDUSTRIAL
INDUSTRIAL
7/8 STAPLEY DRIVE SALE PRICE: $879,368
2/8 STAPLEY DRIVE SALE PRICE: $1,320,600
127m2
213m2
SALE DATE: FEB 2026 $6,924M2
SALE DATE: FEB 2026 $6,200/M2
INDUSTRIAL
INDUSTRIAL
12/475 SCOTTSDALE DRIVE SALE PRICE: $2,400,000
4 FLINT COURT SALE PRICE: $3,050,000
375m2
1,666m2
SALE DATE: FEB 2026 $6,400/M2
SALE DATE: APR 2026 $5,082/M2
INDUSTRIAL
INDUSTRIAL
1/11 JOHN DUNCAN COURT SALE PRICE: $736,500
13/53 CASUA DRIVE SALE PRICE: $1,085,000
113m2
215m2
SALE DATE: JUN 2026 $6,510/M2
SALE DATE: FEB 2026 $5,047/M2
INDUSTRIAL
INDUSTRIAL
2/3 RINA COURT SALE PRICE: $712,000
23 MAIN STREET SALE PRICE: $8,400,000
115m2
3,000m2
SALE DATE: JUN 2026 $6,191/M2
SALE DATE: JUN 2026 $2,800/M2
INDUSTRIAL 10&11/15 JOHN DUNCAN COURT
INDUSTRIAL
SALE PRICE: $5,500,000
11/53 CASUA DRIVE SALE PRICE: $720,000
613m2
97m2
SALE DATE: AUG 2026 $8,972/M2
SALE DATE: FEB 2026 $7,423/M2
Ray White Tugun Commercial: Varsity Lakes Industrial Market Insights
Varsity Lakes Relevant Leases BURLEIGH HEADS RELEVANT LEASES INDUSTRIAL 12/475 SCOTTSDALE DRIVE $145,000 PA + GST + OUTS
INDUSTRIAL 4/1 CROWN COURT $55,080 PA + GST + OUTS
557m2
270m2
LEASE DATE: NOV 2025 $260/M2
LEASE DATE: APR 2026 $204/M2
INDUSTRIAL 12/53 CASUA DRIVE $35,424 PA + GST
INDUSTRIAL 7/482 SCOTTSDALE DRIVE $45,000 PA + GST + OUTS
143m2
164m2
LEASE DATE: DEC 2025 $248/M2
LEASE DATE: NOV 2025 $274/M2
INDUSTRIAL 2/17-19 CROWN COURT $73,717 PA + GST + OUTS
INDUSTRIAL 4/17-19 CROWN COURT $63,600 PA + GST + OUTS
240m2
240m2
LEASE DATE: MAR 2026 $307/M2
LEASE DATE: OCT 2025 $265/M2
INDUSTRIAL 7/15 JOHN DUNCAN COURT $72,800 PA + GST + OUTS
INDUSTRIAL 9/3 RINA COURT $30,000 PA + GST + OUTS
374m2
120m2
LEASE DATE: JUL 2026 $195/M2
LEASE DATE: JUL 2026 $250/M2
INDUSTRIAL 25 CASUA DRIVE $202,125 PA + GST + OUTS
INDUSTRIAL 4/478 SCOTTSDALE DRIVE $48,000 PA + GST + OUTS
725m2
165m2
LEASE DATE: JUL 2026 $279/M2
LEASE DATE: JUL 2023 $290/M2
Ray White Tugun Commercial: Varsity Lakes Industrial Market Insights
RWT Commercial Case Studies SOLD by Ray White Tugun IN DSUT R S ITARL I A L IN DU 3/486 SCOTTSDALE DRIVE
VARSITY LAKES
143m2 MARKETING INVESTMENT: $815 SOLD FOR FOR $765,000 I couldn’t be happier with the outstanding service provided by James and Jacob in the sale of my commercial property in Varsity Lakes. From the very beginning, they took the time to understand my goals and developed a strategy that delivered a fantastic result. Thank you both for an exceptional experience!
SOLD by Ray White Tugun INDUSTRIAL 2/26 TRADERS WAY
CURRUMBIN WATERS
200m2 MARKETING INVESTMENT: $3,300 SOLD FOR $805,000 James and Jacob were just amazing from start to finish. We are so pleased with their effort, expertise, professionalism, as well as the way they treated us every time we needed help. You both deserve accolades in the industry and we hope you both enjoy many more successful sales. Thankyou both, and Ray White Tugun for going the extra mile!
LEASED by Ray White Tugun INDUSTRIAL 7/482 SCOTTSDALE DRIVE
VARSITY LAKES
164m2 MARKETING INVESTMENT: $815 LEASED FOR $45,000 NET James and Jacob were just amazing from start to finish. We are so pleased with their effort, expertise, professionalism, as well as the way they treated us every time we needed help. You both deserve accolades in the industry and we hope you both enjoy many more successful sales & leases. Thank you both, and Ray White Tugun for going the extra mile!
Ray White Tugun Commercial: Varsity Lakes Industrial Market Insights
Industrial Market - South Gold Coast Industrial continues to be the region's most competitive commercial sector.
Increase
Rents PERIOD
RENT RANGE (P.A)
MIDPOINT
Previous Period
$120-130/m2
$125/m2
2025
$170-180/m2
$175/m2
Figure 1: Comparing Previous and 2025 Stock Rent Prices per square meter
Prime sub-5,000 m2 stock has moved from an average of $125/m2 in previous years, to an average of $175/m2 in 2025 (See Figure 1).
Vacancy Sub-2% in key precincts such as Burleigh Heads, Currumbin Waters, Miami, and Tweed Heads South.
180 160
Rent ($/m2)
140 120 100 80
Most new vacant listings lease within 12-28 days if priced correctly.
60 40 20 0
2020
2021
2022
2023
2024
Year
Figure 2 - Gold Coast Industrial Rent Growth (2020-2025) Rents have increased ~45% across the cycle, driven by structural undersupply
2025
Yields Prime yield range: 5.5% - 6.5% (See Figure 2).
7
Ray White Tugun Commercial: Varsity Lakes Industrial Market Insights
Outlooks for 2026 An overview of retail, rent, and investment expectations for 2026, considering 2025's review.
Industrial Rents likely to have modest increases but remain high Vacancy to stay very tight Construction costs limit new supply → ongoing landlord advantage
Office Modest rent growth expected Suburban office to outperform CBD-style formats
Retail Essential-service retail remains strong Tourism-lead retial to recover significatnly in second half of 2026
Investment Yield stabilisation now largely complete Expect Higher deal volume in 2026 Sub-$2M assets to remain most liquid Increased interest in development sites if infrastructure timelines progress
Ray White Tugun Commercial: Varsity Lakes Industrial Market Insights
From the RWC Corporate Desk Top five commercial property predictions for 2026 Living sectors become the new institutional darling Build-to-rent will enter the institutional mainstream in 2026 as investors seek residential exposure with defensive, inflation-linked income. Student accommodation, co-living and modern boarding houses will gain traction amid housing undersupply, while government support accelerates capital deployment. As commercial and residential lines blur, major super funds and offshore investors will validate the sector’s maturity. Retails resurgence continues to surprise
Vanessa Rader Head of Research vrader@raywhite.com
Retail is set to sustain its recovery through 2026, supported by limited new supply and stabilising consumer spending. Neighbourhood, supermarket-anchored, and experience-led centres will outperform, benefiting from essential retail demand and experiential trends. Improving foot traffic, rental growth, and renewed investor confidence are expected to drive increased transactions and yield compression, positioning retail as a strong performer in 2026. Construction sector rebound unblocks development opportunities After an extended construction slowdown driven by high costs and funding constraints, development activity is expected to cautiously resume in 2026 as feasibility conditions improve. Stabilising construction costs, easing labour pressures and stronger occupier pre-commitments will support selective projects across industrial, premium office and retail sectors. While not a boom, this signals a disciplined normalisation of development activity, underpinned by renewed lender confidence. Construction sector rebound unblocks development opportunities From 2026, the Sustainable Finance Taxonomy will reshape commercial property finance and valuation. Access to capital will increasingly depend on NABERS ratings, net zero pathways, or proven sustainability improvements. Assets with weak ESG credentials will face higher borrowing costs, reduced investor demand, and widening value gaps. Sustainability will become a core pricing driver, with properties that fail to meet evolving standards facing structural devaluation. The great office seperation continues In 2026, the gap between premium and secondary office assets will widen. Premium buildings with strong ESG credentials, modern amenities, and prime locations will continue to attract tenants and maintain low vacancies. Well-located, high-quality B-grade assets may benefit from affordability-driven demand, while lower-quality secondary stock risks obsolescence. Vacancy and capital value gaps will grow, amplified by rising sustainability requirements and tenant demand for NABERS-rated spaces, creating a nuanced market beyond a simple A-grade versus secondary divide.
Ray White Tugun Commercial: Varsity Lakes Industrial Market Insights
RWT AUCTION RESULTS RWT ONLINE AUCTION SUMMARY - 25/26 FY SO FAR...
97 PROPERTIES SOLD
557
1,500+
PEOPLE WATCHED ONLINE
BIDDERS REGISTERED
$151,745,750
$3,646,500
TOTAL VALUE OF PROPERTY SOLD
EARNT ABOVE RESERVES SET BY OUR SELLERS
OVERALL PERFORMANCE- WITHIN THE LOCAL MARKET
45
OUR CLOSEST COMPETITORS AVERAGE DAYS ON MARKET
52%
OUR CLOSEST COMPETITORS AUCTION CLEARANCE RATE
24
RAY WHITE TUGUN AVERAGE DAYS ON MARKET
81%
RAY WHITE TUGUN AUCTION CLEARANCE RATE
Ray White Tugun Commercial: Varsity Lakes Industrial Market Insights
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Welcome to the family... PROUDLY PRESENTED BY
James Mulholland + Jacob Wallace COMMERCIAL DIVISION
423 GOLDEN FOUR DRIVE TUGUN QLD 4224 (07) 5598 2577