City of Gold Coast launches search for partner to develop new arena

The City of Gold Coast has put a call out to domestic and international investors to join a public-private partnership to deliver a new 12,000 capacity indoor arena in Southport.

Proposed as a venue for the 2032 Brisbane Olympic and Paralympic Games, the new venue would be built on the site of large carpark opposite the Australia Fair shopping centre and on the edge of the Gold Coast Broadwater.

Announcing the search for investment partners, Gold Coast Mayor Tom Tate stated "wee are about to ignite a global investment wave with the opportunity for investors to partner on a legacy 12,000-plus capacity sports and entertainment arena.

“We will be seeking expressions of interest from major Australian and international consortia to enter a public-private partnership to design, build, finance, operate and maintain the landmark venue.

“This is an early call to global investors to get ready for one of the most exciting, city-shaping opportunities in the Asia-Pacific.”

Under consideration for several years, the council revealed initial plans for the venue back in November, with the project subsequently included as the Queensland Government in March set out its full venue plan for the 2032 Games.

In May, the council reported the budget estimate for the GC Arena to be $500 million and that the freehold land would be acquired from the Queensland Government at a nominal cost.

Its development is expected to be fast-tracked under the Brisbane Olympic and Paralympic Games Arrangements Amendment Act 2024, supporting streamlined approval and planning pathways ahead of an expected opening in 2030.

The move to develop the new arena follows the Games Independent Infrastructure and Coordination Authority (GIICA) having launched an expressions-of-interest campaign for a delivery partner to program manage the delivery of 2032 Games venues infrastructure program.

Registrations of interest have also opened for the design, construction and delivery of the 17 new and upgraded venues for the 2032 Olympic and Paralympic Games.

The ROI will close in two weeks. Organisations can apply through QTenders or the GIICA website. 

The EOI for a GIICA Delivery Partner will also close in two weeks. The GIICA aims to have the successful applicant in place by the end of 2025.

Other venues, transport and athletes villages will be built or upgraded across South-East Queensland and up to Cairns to cater for the influx of visitors.

The Royal Pines Resort has been earmarked as the home to the Gold Coast Athlete Village, and will include a training facility and masterplanned residential component in a mix of housing types.

Will Hodgman, Chair of the Invest Gold Coast, the city’s dedicated investment and economic development agency, said the arena would be operated on a long-term basis, advising "we want to give investors the confidence and delivery certainty they need to get behind this project.

“We are not prescribing the scope or terms, rather we’re inviting the international market to help shape this project with world-class expertise and ideas."

The construction cost of the arena is expected to be $480 million and it is expected that it will be completed in the 2029/30 financial year.

The arena construction is forecast to generate up to $2 billion in economic output, support more than 6500 jobs and inject about $700 million into the regional economy.

Invest Gold Coast, the city’s dedicated investment and economic development agency, will lead the EOI process and said it was seeking innovative, market-led proposals.

The construction cost of the arena is expected to be $480 million and it is expected that it will be completed in the 2029/30 financial year.

Images: Initial concepts for Gold Coast Arena. Credit: City of Gold Coast.