A collection of just 25 large-format apartments and penthouses overlooking Goodwin Park is entering the Coolangatta market, with <a href="https://www.apartments.com.au/new-apartments/marea-residences-coolangatta-27-27a-dixon-street-coolangatta-qld-4225">Maréa Residences</a> combining a low-density, residential-only approach with uninterrupted park and Pacific Ocean outlooks.

Located at 27 Dixon Street, Maréa comprises three and four-bedroom residences alongside a limited number of dual-level penthouses, with the project positioned between Goodwin Park and <a href="https://www.apartments.com.au/developments/coolangatta-qld-4225">Coolangatta</a>’s coastal precinct.

Construction has commenced, with completion currently estimated for late 2027. Three-bedroom residences are priced from $1.8 million.

[smartcode_project:default project_id=150999 project_image_fid=374005]

The project has been designed around its northern outlook across the park, with the building’s architecture, landscaping and material palette intended to establish a connection with the neighbouring green space. The residences have been configured to maximise natural light and views across Goodwin Park towards the ocean.

Inside, the material palette incorporates timber, stone and brushed brass, complemented by curved detailing and ambient lighting. Kitchens and bathrooms carry the same natural material approach, while residences also include basement parking, storage and lift access.

Maréa’s penthouses are arranged over two levels and include private pools, adding another layer to the project’s focus on larger-format apartment living. Across the development, residences are configured with three or four bedrooms rather than the broader mix of smaller apartment types commonly found in larger projects.

[smartcode_project:default project_id=150999 project_image_fid=374010]

Resident amenity is concentrated at rooftop level, where landscaped entertaining terraces and pools take advantage of elevated views across Coolangatta and the Pacific Ocean.

The project has so far been particularly well received by local owner-occupiers and downsizers, according to Urban Activation Property Sales and Marketing Director Matt George, with the residential-only format, construction quality and northern park outlook among the features resonating with purchasers.

“The uninterrupted northern aspect overlooking Goodwin Park has been a key point of difference, with buyers attracted to the sense of serenity and open space the park provides, while still enjoying easy access to the ocean and being within walking distance of the lifestyle and amenities Coolangatta has to offer,” George said.

[smartcode_project:default project_id=150999 project_image_fid=374002]

“The combination of high-quality construction, a residential-only building, park outlook and proximity to the beach has resonated strongly with the local downsizer market.”

The Dixon Street address is within walking distance of Coolangatta Beach and the broader southern Gold Coast coastline, including the surf breaks at Snapper Rocks and Kirra. Coolangatta’s cafés, restaurants and retail are nearby, while Gold Coast Airport is also within close proximity.

[smartcode_project_cta:default project_id=150999]

Joel Robinson

Maréa Residences brings parkside apartments to Coolangatta

Melbourne developer PDG has secured Victorian Government approval for its $1.5 billion Southbank development <a href="https://www.apartments.com.au/new-apartments/the-one-1-queens-bridge-street-southbank-vic-3006">The One</a>, clearing the way for the long-dormant riverfront site opposite Crown to finally be developed.

The Minister for Planning has approved the project at 1-29 Queens Bridge Street, with the Department of Transport and Planning issuing the planning permit following its assessment.

The approval will allow PDG to develop the prominent 5,059 sqm site with a major mixed-use tower comprising premium apartments, including branded residences, a luxury hotel and boutique office space.

PDG acquired the site in late 2024, with its position directly opposite Crown's main entrance and near Melbourne's Arts Precinct making it one of Southbank's most significant remaining development opportunities.

<img alt="PDG" data-entity-type="file" data-entity-uuid="3933013e-6332-4386-b9be-089df05caf17" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.22%E2%80%AFAM.png?VersionId=sITIgBqDL0N3VNSMwWEmF5UA.uvcsRyu" />

Designed by COX in collaboration with ODO and PDG, the tower's architecture draws on the movement of the Yarra River, with six vertical pleats running the height of the sculpted facade.

The project will also see the heritage-listed Queens Bridge Hotel restored and incorporated into the development&nbsp;with new hospitality and public uses, including a rooftop venue.

A significant component of The One will be its residential amenity.

More than 5,000 sqm of resident facilities will be delivered across a single level, making it one of the largest consolidated residential amenity offerings proposed in an Australian apartment development.

The planning approval also incorporates a major upgrade of Queensbridge Square, which PDG will deliver in partnership with the City of Melbourne.

<img alt="PDG" data-entity-type="file" data-entity-uuid="73167fcd-1031-4b6f-a408-a064cfe45ed1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.17%E2%80%AFAM.png?VersionId=Pf1AEWxw6SNmBqR0zQW5lyEze.MtxgFp" />

The existing square will be revitalised as a new civic and pedestrian space along the Yarra River, strengthening the connection between the project, Southbank and the riverfront.

PDG Founder and Managing Director Vince Giuliano said the approval represented a major milestone for a site which has remained largely underutilised for more than 15 years.

“This is the most significant Planning Permit approval Melbourne has seen in recent years,” Giuliano said.

“For more than 15 years, this site has remained underutilised. This approval enables us to deliver a project that will contribute meaningfully to the revitalisation of Southbank, restore and reactivate an important heritage building, and create a new civic and hospitality destination for Melbourne.”

The latest approval follows an earlier planning permit issued by the City of Melbourne covering demolition works across part of the site at 9-29 Queens Bridge Street. Those demolition and early works are already underway.

PDG has also started generating early interest in the residential component from owner-occupiers ahead of a planned public launch in early 2027.

PDG secures approval for $1.5bn Southbank apartment development, The One

Local developer Harridan is seeking to turn its Woolloongabba apartment project into the first stage of a broader transformation of Burke Street, using a new 16-storey mixed-use building to establish a greener pedestrian connection toward the rapidly evolving Boggo Road transport and knowledge precinct.

The South East Queensland developer has filed plans for 154 apartments on the <a href="https://www.apartments.com.au/new-apartments/4-burke-street-woolloongabba-qld-4102">southern side of Burke Street</a>, where its proposal has been designed alongside a wider vision by LatStudios for the street.

That vision positions the southern side of Burke Street for buildings of 15 storeys and above, while envisaging lower-rise development of up to five storeys on the northern side to transition into Woolloongabba's existing character housing. It also proposes wider pedestrian verges, deep planting, new street trees and upgrades to the pedestrian approach to Boggo Road Station.

The Harridan development itself has been designed by Brisbane-based Arqus Design and will comprise 154 apartments across 16 storeys. The mix is weighted heavily toward two-bedroom apartments, with 121 proposed alongside 10 one-bedroom and 23 three-bedroom residences. There will typically be around 14 units per floor.

A lower-ground car park and three podium levels will accommodate 156 resident parking spaces, along with visitor and commercial parking. There will also be 154 resident bicycle spaces and 40 visitor bicycle parks.

&nbsp;

Harridan is a family-owned developer and part of the Holmwood Highgate Group, with more than three decades of development activity across South East Queensland. Its portfolio spans residential, commercial and industrial property, with current residential projects including Riverbank on Byron in Bulimba, Esperance Residences in Carina and The Precinct at Kinross Road in Thornlands.

Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.

While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;

Sarazin has been the major player in the area. They are under construction at Murcia Residences, on the fringe of East Brisbane and Woolloongabba. They have just launched <a href="https://www.apartments.com.au/new-apartments/the-stanley-residences-woolloongabba-8-trafalgar-street-woolloongabba-qld-4102">The Stanley Residences</a>, in Woolloongabba on Trafalagar Street. They also have Nuage coming soon on the nearby <a href="https://www.apartments.com.au/new-apartments/nuage-woolloongabba-14-wellington-road-woolloongabba-qld-4102">Wellington Road</a>.

First look: Harridan plans Burke Street transformation beside Boggo Road transport hub

IN BRIEF

<ul>
	<li>
	Just three double-storey Sky Homes sit at the top of The Waterline, each with its own private marina berth and rooftop terrace.
	</li>
	<li>
	Construction on The Waterline is complete, with the first residents expected to move in from mid-October.
	</li>
	<li>
	Sky Homes range from 282 sqm to 367 sqm and are priced from $3.65 million.
	</li>
</ul>

<hr />
Lewis Land has opened the first completed sky home for inspection at Harbour Shores, giving buyers their first opportunity to step inside one of just three double-storey residences crowning The Waterline.

Each sky home comes with its own private marina berth, rooftop terrace and Broadwater views, combining the scale of a larger home with direct access to the boating lifestyle that underpins the wider <a href="https://www.apartments.com.au/new-apartments/harbour-shores-biggera-waters-564-oxley-drive-biggera-waters-qld-4216">Harbour Shores</a> masterplan.

[smartcode_project:default project_id=113271 project_image_fid=366708]

Lewis Land Head of Development Michael Long said the inclusion of a berth with every Sky Home had become increasingly valuable as marina access across the Gold Coast tightened.

“Marina berths are becoming increasingly difficult to secure across the Gold Coast, so including one with every Sky Home makes this a genuinely rare offering,” Long said.

“The private 70-berth marina will accommodate boats up to 12 metres in length and is positioned just 2.5 kilometres from the Broadwater, placing the open ocean only 15 minutes away.

“Being able to step out of your home onto your boat is a rare luxury, and it’s something residents here can look forward to when it opens later this year.”

[smartcode_project:default project_id=113271 project_image_fid=366709]

The display opening comes as construction completes on The Waterline, with the first residents expected to move in from mid-October.

The three Sky Homes range from 282 sqm to 367 sqm and each feature three bedrooms, three bathrooms, multiple living zones, expansive kitchens with butler's pantries and large balconies taking in the Broadwater outlook.

Each residence also has three secure basement car spaces and additional storage.

“This is the first opportunity the Gold Coast has had to step into Harbour Shores and see, touch and feel what we’re bringing to life here,” Long said.

“There are only three Sky Homes within The Waterline, ranging in size from 282sqm to 367sqm, with each residence featuring three large bedrooms, three bathrooms, multiple living zones, expansive custom-built kitchens with butler’s pantry, and large balconies capturing Broadwater views.”

<img alt="Harbour Shores" data-entity-type="file" data-entity-uuid="bab65e10-4fab-45e1-92d8-fc56e2ab98ff" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%202.00.16%E2%80%AFPM.png?VersionId=XT8q76LsPkw3cYTsvN3JfFDaPLud90PN" />

Residents of The Waterline will have access to a private pool, along with Harbour Shores' wider collection of amenity including a lagoon pool, social clubhouse, tennis court, gym, yoga facilities and sauna.

Lewis Land partnered with Studio Collective to furnish the completed display, with the interiors designed to demonstrate how the residences could function as permanent homes rather than simply as show apartments.

Studio Collective Director Melissa Park said the surrounding waterways informed the interiors, but in a more restrained way than a traditional coastal scheme.

“We drew inspiration from the canals and coastal surrounds, but our approach was to interpret that subtly through layered materials and a grounded palette of earthy tones, rather than literal coastal references,” Park said.

“We introduced hero moments of green and teal to reference the surrounding waterways, while mirrored elements help reflect natural light.

“The result is a residence that feels elevated yet comfortable, somewhere buyers can genuinely imagine themselves living, entertaining and unwinding.”

Sky Homes are priced from $3.65 million.

Lewis Land is also offering private marina berths with The Residences, its limited collection of three and four-bedroom villas positioned directly along the Harbour Shores waterfront boardwalk.

Three-bedroom villas are priced from $2.99 million, while four-bedroom residences start from $3.19 million.

Harbour Shores is being marketed by Colliers International.

[smartcode_project_cta:default project_id=113271]

Lewis Land opens sky home display as The Waterline completes at Harbour Shores

St Vincent de Paul Society Housing Australia has filed plans for a major mixed-use housing precinct on the southern edge of the North Sydney CBD, adding another significant proposal to a pocket around North Sydn​ey Station that is quickly becoming one of the LGA's busiest development zones.

The State Significant Development Application covers a 5,990 sqm site at <a href="https://www.apartments.com.au/new-apartments/1-19-mackenzie-street-lavender-bay-nsw-2060">1-19 MacKenzie Street and 211 Blues Point Road in Lavender Bay</a>, immediately south of Nor​th Sydney Station and between the commercial core and the lower-rise Lavender Bay Heritage Conservation Area.

Designed by Wardle, the proposal would deliver a new residential tower comprising 88 build-to-sell apartments and 19 affordable apartments, alongside a separate co-living building with 57 rooms and a building manager's studio.

It would also see the significant restoration and upgrade of St Francis Xavier Catholic Church, the adaptive reuse of the former school building, new parish facilities, retail, a new public square and around 1,000 sqm of publicly accessible open space.

<img alt="Vinnies North Sydney" data-entity-type="file" data-entity-uuid="d5dd7f87-a617-463e-b577-17541e01f0e9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.10.13%E2%80%AFAM.png?VersionId=4R8TsFN3P_LrrXO2HswTOIrx2blil8lh" />

The project is seeking a concurrent rezoning of the site to R4 High Density Residential and an increase in the maximum building height to allow a tower reaching RL120, or up to 20 storeys. The proposal was progressed through the NSW Government's Housing Delivery Authority pathway.

The build-to-sell component will be weighted toward larger apartments, with just six one-bedroom apartments compared with 31 two-beds, 43 three-beds and eight four-bedroom residences.

The 19 affordable apartments will comprise two studios, 15 one-bedroom apartments and two two-bedroom apartments, taking the total apartment component to 107 residences before the 58 co-living rooms are included.

<img alt="Vnnies" data-entity-type="file" data-entity-uuid="7d568ca5-cb90-4e18-96c6-d9795dba0c56" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.10.05%E2%80%AFAM.png?VersionId=GY2R5M9VtQh0EKy1vajaea19PSLOPuRD" />

Wardle's design for the Vinnies site has sought to negotiate that emerging high-rise context while retaining the lower-scale character of MacKenzie Street and the adjoining heritage conservation area.

The main building adopts a three-storey podium and tower arrangement, with the podium aligned to the ridgeline and front setback of St Francis Xavier Church.&nbsp;Wardle has designed the podium with colonnades, seating, recessed entries and active ground-floor frontages, with sandstone-toned precast concrete and face brick referencing the materiality of the existing church.

The tower then steps back eight metres to the south and six metres to the north before rising in a sculpted form comprising four interlocking quadrants. Wardle has also introduced rounded forms and chamfered corners to reduce the tower's perceived bulk and improve view sharing with neighbouring development sites.

Resident facilities and outdoor areas are planned at the separation between the podium and tower at Level 3, oriented toward Sydney Harbour and the CBD skyline.

The tower itself will feature a glass reinforced concrete facade, with recessed balconies and deep reveals used both to provide shading and privacy and frame views toward the harbour and city. The lower levels take a different architectural approach, using brick and sandstone-toned finishes intended to establish a stronger relationship with St Francis Xavier Church. The Church itself will be conserved and upgraded for its continued use, while the former school building will be adaptively reused as part of the co-living component.

<img alt="Lavendar Bay" data-entity-type="file" data-entity-uuid="2d4418ad-90aa-4d49-af93-c80b140aea80" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.09.47%E2%80%AFAM.png?VersionId=Kv4gzbsACaGvZSRuaqcfGC54jEJRXIDJ" />

&nbsp;

The proposal adds to an increasingly concentrated pipeline of residential development around Blue Street, MacKenzie Street and Lavender Bay.

Just west of the site, Central Element lodged plans earlier this year for one of the most significant residential developments proposed in Lavender Bay in recent years.

Central Element's SJB-designed scheme at 64-66 Lavender Street and 3-7 Middlemiss Street would deliver 163 apartments across two towers rising 23 and 32 storeys, replacing five existing apartment buildings containing 32 homes. The project also forms part of the Housing Delivery Authority pathway.

<a href="https://www.apartments.com.au/news/nsw/first-look-central-element-reveals-lavender-bay-apartment-plans?utm_source=chatgpt.com" rel="noopener" target="_blank">First look: Central Element reveals Lavender Bay apartment plans</a>

Immediately around North Sy​dney Station, another two significant proposals have emerged at 5 and 15 Blue Street.

Zurich Australian Insurance Properties is seeking to adaptively reuse its longstanding commercial building at 5 Blue Street, directly above North Sydney Station, rather than demolishing the structure.

Its SSDA proposes converting the building into a 14-storey mixed-use development with 62 apartments and 86 co-living rooms, together with ground-floor retail and a major refurbishment of Blue Street Plaza. The application is currently at the Response to Submissions stage.

<a href="https://www.apartments.com.au/news/nsw/first-look-zurich-targets-north-sydney-office-conversion-with-148-unit-proposal-above-metro-station">First look: Zurich targets North Sydney office conversion with 148-unit proposal above Metro station</a>

&nbsp;

First look: Vinnies files for 20-storey Lavender Bay apartment tower as North Sydney housing pocket heats up

Savills

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Savills Studley has announced that their occupier technology platform, Knowledge^3 (pronounced “knowledge cubed”) powered by LEVERTON has won the H. Bruce Russell Global Innovator’s Award presented by CoreNet Global, the world’s leading professional association for corporate real estate (CRE) and workplace executives, service providers and economic developers.
This joint platform delivers proprietary data visualizations and analytics by combining LEVERTON’s artificial intelligence-powered lease abstraction and data capture technologies with Savills’ proprietary and customisable visual analytics environment, known as Knowledge^3.
Using this platform, clients with large scale real estate portfolios are able to analyse and interpret data in ways that enable them to identify fresh opportunities, minimize portfolio risk and unlock hidden value.
Adam Evennett, Regional Director and Head of Savills Worldwide Occupier Services Asia Pacific team, said Savills’ success in walking away with this global innovation award is something which our organisation should be very proud of.
“Thanks to the initiative and leadership of a multinational team including Patrick McGrath, Head of Client Technology Systems, Managing Directors Bryan Ezell and Doug Jamieson and Tom Slator, Insight and Development Manager, we now have a technology solution available to support our pursuit of international portfolio clients which is market leading.
"The versatility and power of the platform is impressive and has the potential to revolutionise the way in which clients administer and manage their international real estate. I would encourage everyone to share news of this award with your clients and the broader market.”
 
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jrobinson-rf4aSBido9

Savills win 2017 CoreNet Global Innovator’s Award with Knowledge^3 Product

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The hospitality sector continued its growth trajectory in 2017, according to recent data from Savills.
Revenue per available room Australia-wide increased 2.3% for the year-to-date till September, according to Savills Hotels recent quarterly update.
Sydney continued to outperform Australian markets with a RevPAR gap of $40+ over the next best market performer, Melbourne.
Perth was the worst performer, with RevPAR down down 13.3%.
The best growth markets were Canberra (up 11.8%), Cairns (up 9.4%) and Sydney (up 6.2%).   
<a href="https://www.propertyobserver.com.au/images/2017/11/27/RevPARmain.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/11/27/RevPARmain.png" alt="">
<a href="https://www.propertyobserver.com.au/images/2017/11/27/RevPAR2.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/11/27/RevPAR2.png" alt="">
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j.ballantyne1990-6AQqhLzZaK

Sydney outperforms rest of Australia in hotel room rates: Savills

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One of Manly’s last remaining beachfront freehold properties has just sold through Savills.
Offered for the first time in 50 years, the property at <a href="https://www.realcommercial.com.au/property-land+development-nsw-manly-502506802" target="_blank">15-16 South Steyne</a> changed hands for an undisclosed sum.
Zoned Flexible B2 Local Centre zoning, the property was marketed as a development opportunity through an expressions of interest campaign that closed on September 14.
It is close to Manly Wharf with two street frontages.
The selling agents were Neil Cooke, Stuart Cox and Tim Grosmann of Savills.
It was previously home to the Royal Far West school, which provides support and services to local country kids for more than 80 years. It was put on the market with expectations of $10 million, Fairfax Media added.
Three budget accommodation sites in Manly, including the suburb’s biggest backpackers, are for sale.
<div class="story-content">
The accommodation represents almost 200 guest beds, are all close to the beach.
The Manly Guesthouse in Steinton Street is being offered as a going concern but the Manly Backpackers in Raglan Street and a colourful boarding house on the corner of Whistler and Steinton Streets are advertised as potential development sites.
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Manly's last beachfront property changes hands through Savills

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Integrated knowledge-based environments have been evolving for the last 30 years globally, however they have only recently started to move beyond the infancy phase in Australia and in turn morphing into competitive Science or Technology precincts in their own right.
The origins of science parks date back to the early 1980’s when a number of UK-based universities recognised that an era of integrated educational and knowledge based business had arrived and realised the benefits of aligning multidisciplinary research and businesses. 
What is a science park?
A science park is an entity managed by specialist experts usually being universities, local or regional government, whose main aim is to increase the wealth of its community by promoting a common culture of innovation. Science parks aim to find the balance between social and educational benefit through knowledge enhancement with commercial considerations for the provision of the infrastructure.
Linkages with start-ups, manufacturing, incubation hubs, R&amp;D and many more enable them to carry the knowledge gained from such synergies through to practical and or commercial uses. The aggregation of science parks results in a ‘knowledge economy’ of social and commercially oriented zones of influence. In theory it’s a win-win for the developers and researchers.
Over the last two decades this ‘new’ property sector has continued to evolve with the UK and USA leading the charge. Allied businesses have opted to position themselves in these parks to take advantage of not only knowledge and infrastructure sharing but also the flexible operational elements ranging from financial advice through to marketing support.
Consider the case, for example, of a small orthopaedic research entity that can’t afford specialised integrated laboratories but needs to be aligned with an industrial designer, intellectual property advisors, marketers and manufacturers of prototypes. By positioning themselves in a science park dedicated to their line of research, they could collaborate with such aligned professionals, share specialist laboratory space at nominal cost, and collaborate with an industrial designer to manufacture prototypes, patent them and be able to test them on patients at an adjoining hospital once they are approved for use. Such associations would be much more difficult in disparate locations and ‘accidental collisions’ would be very unlikely.
Global Precedents
One of the oldest and largest examples of this concept from Europe is the Cambridge Science Park in the UK, a joint venture between Trinity College and another Cambridge College – Trinity Hall. Between 1994 and 2004, David Lupson and Dr Sarah Tasker of Savills Science were responsible for crafting the development and operations of the Cambridge Science Park.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/11/14/Cambridge%20Scince%20Park%20copy.jpg" alt=""> 
This project provided for Europe’s largest biotech cluster at the time and the UK’s first purpose designed laboratories for commercial leasing. 
Another example is the Liverpool Science Park developed on behalf of the joint owners <a href="https://www.ljmu.ac.uk/">Liverpool John Moores University</a>, the <a href="https://www.liverpool.ac.uk/">University of Liverpoo</a>l, and <a href="https://liverpool.gov.uk/">Liverpool City Council</a>. Liverpool Science Park is as a not-for-profit company which operates on a fully-commercial basis. Savills was first appointed on the project in 2004 and have been instrumental in providing the initial science park design, funding, governance and commercial advisory to all three phases of the 11,000sq m development. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/11/14/Liverpool%20Science%20Park%20copy.jpg" alt="">
The construction of the latest phase is currently underway which will see an additional 9,000sq m of commercially available office, teaching and laboratory space added to the Liverpool Knowledge Centre. 
Asia Pacific Adoption
Undoubtedly, science and technology parks are well established across Europe and the USA, while in other parts of the globe including many Asia Pacific countries, these concepts are only beginning to be mature. Hong Kong, China and Singapore have been at the forefront of the sector’s rise in Asia including but not limited to Hong Kong Science Park, Zhongguancun and Biopolis. 
Thailand is currently preparing to welcome its first ever Digital Park, located on the Chonburi Province within the <a href="https://www.thailand-property.com/blog/potential-for-sri-racha">Sri Racha district</a> of Chonburi Province. CAT Telecom, Thailand's leading government-owned Telco Company has appointed a world-class consortium led by Savills 
With a strong emphasis on using smart technology, this Digital Park will enable entrepreneurs and start-ups to intermingle to enhance networking opportunities and ‘accidental collisions’. The CAT Telecom Digital Park will span 100 hectares with development estimated to take between 10 and 15 years. The purpose of the Digital Park is to create an environment for a digital ecosystem to excel.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/11/14/Thailand-First-Digital-Park%20copy.jpg" alt="">
 Australian Context
With the rest of the world making way for the digital and science ecosystem boom, Australia too is beginning to further explore pre-planned precincts to accommodate challenges such as a growing and ageing population, exponential advances in technology and the effects of climate change to name a few.
Melbourne’s west precinct of Werribee has been identified as an area of growth set to morph into a $30 billion cutting edge ‘Education City’ with the aim of becoming the largest Science Park in the southern hemisphere. The precinct will comprise of universities and schools along with home and apartment development to house 80,000 residents. If the proposal is approved, it will develop a 400ha stretch of State Government owned land into its own knowledge economy hub. 
In Queensland, the Commonwealth Games Athletes village will be transformed into a multi-billion dollar medical research and technology hub as the Gold Coast Health &amp; Knowledge Precinct prepares to inject $2.9 billion into the Gold Coast economy and employ 26,000 people. 
The 200ha Parklands site is a joint strategy of the Queensland State Government, Gold Coast City Council and Griffith University. The precinct is already positioning itself as a biomedical research hub and adapts the Science Park knowledge economy concepts from overseas.
Similar momentum has been generated across the Sunshine Coast region where Kawana has become the motivation of yet another rapidly evolving health precinct. The master-planned site incorporates a $1.8bn Sunshine Coast University Hospital and the $250m Ramsay Private Hospital. The precinct itself comprises 17ha of mixed-use land incorporating medical, aged care &amp; retirement, car parking facilities, retail, residential, hotel and child care facilities. 
Savills has been tasked by the master planner to work with all stakeholders in assessing demand and subsequently securing interest to develop land and occupy purpose built medical facilities within the precinct.   
Other current and proposed precincts around Australia include the St Vincent’s Research &amp; Biotechnology Precinct (Sydney), Bentley Technology Precinct (Perth), Australia National University Science Precinct (Canberra) and Monash Science Precinct (Melbourne).
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/11/14/Sunshine%20Coast%20Health%20Precinct%20copy.jpg" alt="">  
Australian Outlook 
Australian developers and public entities are not fully conversant with this sector and its specific idiosyncrasies yet. Development models for commercial buildings do not necessarily align with those of Science Parks where social and educational drivers are key. Returns in this sector are long term with a focus on ensuring that the assets incubate start-ups and small research which in turn attracts larger investors and allied entities to provide commercial offsets.
Because each Science Park needs to be focused on a specialised niche to avoid cannibalisation of talent, resources and professionals, there is no one standard model for their creation. Whilst some principles from successful international precincts may apply, each one needs to be purpose crafted with the right elements of governance, tertiary, professional and allied industries etc. The creation of a focused and well-crafted Unique Value Proposition (UVP) through actual operation rather than just aspirational words is key. This suggests that governance platforms, vision, partnering, precinct development protocols, methodology of investment attraction and commercial return on investment modelling must align with the UVP. 
The sector has arrived in Australia and is here to stay. How existing Australian precincts can be modelled to ensure the right balance of commercial and social benefit to make them sustainable and self-sufficient is still debatable and not yet achieved. We now have a property class taking shape and morphing into its own sector. With smart planning, appropriate sector specific advisory, along with appropriate governance, this sector has the ability to become a highly sought-after investment offering.    
Lawson Katiza is an Associate Director of <a href="http://www.savills.com.au/services-and-sectors/project-management.aspx" target="_blank">Savills Project Management</a>, and state lead for Advisory and Commercial sectors. Savills Project Management is a Tier 1 project management and social infrastructure advisory specialist and a division of <a href="http://www.savills.com.au" target="_blank">Savills Australia</a>, an integrated property solutions company.
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Creating knowledge-based ecosystems through science and technology: Savills

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The US and UK are the most mature student housing markets, and continue to dominate global investment deals, but new stock developed now in Europe and Australia paves the way for institutional investment in the future, according to a recent Savills report.
<a href="https://www.propertyobserver.com.au/images/2017/11/10/SavillsNov15Chart.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/11/10/SavillsNov15Chart.png" alt="">
Student Housing (SH) yields and sector comparisons:
<a href="https://www.propertyobserver.com.au/images/2017/11/15/SavillsSH.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/11/15/SavillsSH.png" alt="">
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Yields 
The US market stands out as particularly high-yielding for such a mature market. We expect yields to move in as institutional involvement increases, the sector matures and perceived risk diminishes. Although they are less developed markets, there is also potential for further downward yield shift in Australia and Spain over coming years. Whether Germany, the UK and France are fully valued at 3.75%-4.5% will depend on how much scope there is for rental growth in their main university cities. The gap between residential and student housing yields remain, although we expect it to narrow. 
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Source: <a href="http://pdf.euro.savills.co.uk/global-research/world-student-housing-2017-18.pdf?utm_source=PropertyObserver&amp;utm_medium=DigitalAdvert&amp;utm_campaign=CPOeNewsletterBanner-WorldStudent-8Nov2017&amp;utm_source=Property+Observer+List&amp;utm_campaign=24caa627fb-Commercial_Property_27_September_2017&amp;utm_medium=email&amp;utm_term=0_a523fbfccb-24caa627fb-245615189" target="_blank">Savills World Research</a> 
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Australia leads in student housing yields: Savills

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Paris is a top-tier world city that offers value on a global stage.
The Savills combined world city ranking for connectedness, competitiveness, power and performance often places Paris third, after London and New York.
But several years of more muted performance have left residential costs significantly lower than its rivals.
However, with a new political regime, historically low interest rates and building consumer confidence, the residential market has now possibly turned.
Prices in the prime Paris residential market rose by 4.3% in 2016 and the pace of price growth has picked up in 2017.
“Stock levels have been starting to contract over the last year which will continue to push prices higher in the coming months”, said Hugues de La Morandière, partner of Savills residential in Paris.
Across the whole market, prices stood at €8,430psm in February 2017. Leading indicators from Notaires suggest a price of €8,700psm in June 2017, bringing price growth to 7% for the last 12 months.
In the prime market, prices have also grown from a 2014 low, averaging between €12,000 and €18,000psm, while exceptional properties are trading for between €20,000 and €30,000psm. 
Values in the 1st, 4th and 5th arrondissements have already exceeded their 2012 peak.
Paul Tostevin, associate director, Savills World Research, said recently the recovery was being driven by domestic demand.
"Activity has been buoyed by record low interest rates and more-competitive asking prices.
"This year, the prospect of interest rate rises has encouraged more buyers to close deals and stock levels have fallen.
“Overseas buyers accounted for just 9% of the prime market in 2016, but we expect them to grow in importance. 
"The new Government will bring clarity on legislation and a period of relative stability.
"This could encourage buyers who have been waiting on the sidelines to act, including expat French citizens looking to return home.”
<a href="https://www.propertyobserver.com.au/images/2017/06/23/Screen%20Shot%202017-06-23%20at%2010.00.43%20am.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/06/23/Screen%20Shot%202017-06-23%20at%2010.00.43%20am.jpg" alt="">
<a href="https://search.savills.com/com/en/list#/r/list/property-for-sale%252Ffrance%252Fparis%252Fgbp%252Fdesc" target="_blank">Prime Paris</a> is characterised by apartments of the Haussmann era, with limited new development. 
Consequently, modern buildings with high levels of services and amenities (a type favoured by wealthy international buyers) are relatively rare in Paris.
Pied-á-terres, larger apartments and mansions are favoured by both French and international high net worth individuals (HNWIs).
Family apartments are sold mainly to the French.
Overseas buyers accounted for 9% of prime Paris sales in 2016, down from a peak of 14% in 2008.
Americans, who benefit from a strong dollar, dropped from 21% of foreign buyers in 2015 to 16% in 2016.
Other Europeans are the largest single foreign buyer group (39%), led by the British, Swiss and Belgians.
The Chinese, a huge tourist group, have yet to make their mark as property buyers.
The perception of France as a high-tax location has weighed on the prime markets.
But Savills analysis of buying, holding and selling costs in major world cities suggests this is unfounded.
Property taxes and fees are, in fact, average by global standards.
Purchase costs in particular, are lower than many rival cities. Hong Kong, Vancouver and Singapore all levy an additional 15% stamp duty on foreign buyers (on top of existing stamp duties).
Beyond property, France’s much quoted 75% income tax rate is not payable by those whose source of income is from another country.
Paul Tostevin suggested the election of Emmanuel Macron as the new French president should mean a period of stability for the Parisian residential market.
"Reduced political risk in Europe coupled with pro-business reforms could result in renewed economic growth and stimulate the residential markets. 
"The abolition of Wealth Tax (ISF) will improve France’s attractiveness to HNWIs, although taxation on real estate at the current ISF thresholds are set continue.”
Mark Harvey, head of European sales at Knight Frank, noted last month that online searches for French property on Knight Frank’s website had increased by 97 per cent in April 2017 compared to March, and across the country 30,909 properties changed hands in the first quarter of 2017, up 8 per cent on the same period in 2016 and 29 per cent on 2015.
Despite price growth in the prime Paris residential market of 7 per cent in the past 12 months, less than 15 per cent of HNW buyers are foreign, compared to around 60 per cent in London, according to Savills.
It seems Paris’s high-end housing stock is typified by gloomy 19th-century apartments whose stuffy interiors are worlds away from the open-plan, wrap-around glazed affairs favoured by most international buyers.
‘Unlike London, where there are upwards of 20-25 large developments going on, in Paris there are fewer than three," Hugues de la Morandière told the Spear's wealth management website last month.
"Consequently, Paris tends to be less attractive to people who want something of international standards, although there is a new trend of interior designers renovating older apartments into something more modern."
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Confidence returns to Paris residential market says Savills

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Camberwell's popular T2 premises has sold for just over $6 million.
It was a private sale between local investors, negotiated by Savills Australia.
The 275sqm primary-grade retail investment asset at <a href="https://www.commercialrealestate.com.au/property/596-burke-road-camberwell-vic-3124-2013810937" target="_blank">596 Burke Road</a> transacted for $6.008 million, reflecting a yield of 5.11 per cent.  
T2 shares the premises with gift and home décor store, Montebello Emporium.
Savills Australia’s Nick Peden, Jesse Radisich and Benson Zhou brokered the deal, achieving a strong land rate of $22,007 per sqm.
Peden said investment opportunities in the metropolitan markets of Camberwell and Hawthorn had been hotly contested this year.
“This is the latest in a string of sales we’ve concluded in the area,” Mr Peden said.
“In 2017 alone, Savills has sold seven prime properties, ranging in value from $5.5million to $15million.”
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T2's Camberwell shopfront changes hands

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Savills have prepared charts on major retail development analysis across Australia.
It shows stock under construction and national development by retail type.
<a href="https://www.propertyobserver.com.au/images/2017/10/27/Retail-Construction.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/10/27/Retail-Construction.png" alt="">
<a href="https://www.propertyobserver.com.au/images/2017/10/27/Retail-Dev.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/10/27/Retail-Dev.png" alt=""> 
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Major Australian retail development analysis: Savills

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A corner retail freehold building with an approved permit for a boutique, mixed-use project in Melbourne’s Brunswick East has been listed for private sale.
The <a href="https://commercialpropertysearch.savills.com.au/2888ad3f-b499-e711-80d1-005056816353/Sale/Brunswick-East/70-Lygon-Street" target="_blank">70 Lygon Street</a> property has a building area of 258 sqm and comprises ground level retail and a four-bedroom apartment.
It has a monthly tenancy providing flexibility, according to Savills agents Jesse Radisich, Clinton Baxter and Benson Zhou of Savills.
The land area is 229 sqm.
Zoned Commercial 1, the site has a permit in place for a boutique, luxury project comprising retail, townhouses and an apartment.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/10/31/Brunswick.jpg" alt="">
The engineering drawings are complete, so construction can start immediately.
The property is well located within a retail strip and has good transport connections..
It sold for $1,697,000 in 2010, and in 2014 at $1,825,000, and then was again advertised for sale in 2016, according to CoreLogic RP Data.
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jonathanchancellor-7SQnKwU6yx

Retail mixed-used building in Melbourne's Brunswick East for sale: Savills

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One of the first mixed-use development sites in Sydney’s Inner West suburb of Burwood within The Parramatta Road precinct is set to hit the market through Savills.
Located at 318-324 Parramatta Road, the site has four separate lots accommodating three detached commercial dwellings situated on nearly 3,664 sqm of land.
The sale is being managed by Neil Cooke, Stuart Cox and Johnathon Broome of Savills Australia.
The site will be sold through an expressions of interest campaign closing November 15.
It benefits from being situated within the finalised Parramatta Road Urban Transformation Strategy carrying with it a proposed maximum height limit of part 21 metres and part 24 metres; a part 2.1:1 and part 2.4:1 FSR and a part B4 Mixed Use and part R3 Medium Density Residential zoning which lends itself to a premium mixed use development subject to council approval.
It is close to transport and the local business hub.
The elevated nature of the site provides the property with panoramic district and city views to the eastern elevation and Blue Mountains views to the western elevation, via a redevelopment of the site, according to the agents.
There is potential for 8,404 sqm* of Gross Floor Area (GFA), 8,016sqm* of Residential GFA and 375sqm* of commercial/ retail GFA, according to Savills. 
A concept scheme has been prepared for the property allowing for 104 residential apartments and ground floor retail space.
The three-detached single storey commercial/light industrial dwellings all with associated on-grade hard stand parking currently return $359,767 per annum of gross holding income. 
Each of the three properties will be offered for sale subject to ‘Going Concern.’
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/10/17/ParramattaRd2.jpg" alt="">
The Greater Sydney Commission, which manages the Parramatta Road Urban Amenity Improvement Program, will work with the six councils to deliver the projects in partnership.
The Greater Sydney Commission’s Chief Commissioner Lucy Turnbull AO said the projects have strong community support, according to a recent NSW Government press release.
“As Sydney grows, it will be more and more important that we enhance the liveability of our suburbs by creating great spaces where people will want to live and work and are encouraged to get out and walk or cycle or relax in well-designed opened spaces,” Turnbull said.
Stuart Cox said Burwood is a well-established suburb which has developed into a mixed commercial and residential precinct and hence a lot of interest was expected from high net worth investors and developers.
 
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