A wave of investment, renewal and precinct growth continues to shape the northern edge of Macquarie Park, where daily life is supported by a rare combination of university activity, corporate employment, major retail, and expansive green corridors. It’s this convergence of amenity and connectivity underpins the setting for <a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a>’s <a href="https://www.apartments.com.au/new-apartments/la-vera-94-talavera-road-macquarie-park-nsw-2113">La Vera</a>, which has now topped out and is tracking toward completion in mid-2026.

Within this pocket of the precinct, residents move easily between the area’s key anchors. Macquarie Centre, home to more than 360 retailers, fresh food offerings, dining and entertainment, sits at the heart of local convenience and functions as a major transport interchange. The Metro, T1 rail line and extensive bus network place much of Sydney within quick reach, while surrounding arterial links support direct access to neighbouring districts.

[smartcode_project:default project_id=134951 project_image_fid=5829]

Green space remains a defining feature of the immediate environment. Lane Cove National Park stretches along the northern boundary of the precinct, offering bushland trails, cycling routes and quiet riverfront pockets. Shrimptons Creek and the campus grounds of Macquarie University extend these recreational networks, softening the urban setting and creating a daily connection to nature that informs the project’s architectural response.

<a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a> have shaped La Vera around these contrasts. The building’s northern elevation adopts an organic, curvilinear form that mirrors the natural topography of the national park. Three sculpted forms soften the tower’s profile and encourage a stronger transition between indoor living areas, balconies and the broader landscape.

[smartcode_project:default project_id=134951 project_image_fid=223737]

Cox Director Felipe Miranda says the building’s outlook played a central role in the design process.

“The vision for the project was to conceive a building that adopted an organic and curvilinear form to the northern portion that faces the Lane Cove National Park… The residents that reside in the northern portion of the building benefit by having beautifully crafted curved balconies that speak to the natural context and heighten the relationship of their internal living spaces to the external balconies,” Felipe Miranda of Cox Architecture said.

Toward the city-facing side, the design shifts to a more urban expression. A gridded facade and extensive glazing capture CBD views, creating a dual strategy that blends ecological outlooks with metropolitan orientation.

[smartcode_project:default project_id=134951 project_image_fid=5827]

La Vera delivers 169 residences across one- to four-bedroom layouts, reflecting the needs of young families, downsizers, first-home buyers and investors seeking long-term certainty within a high-amenity location. From the project, residents can walk to Macquarie University, Macquarie Hospital and nearby corporate offices, reach national park trails within minutes, and enjoy retail and dining without relying on a car.

The project is delivered by Urban Property Group, a 4.5-star iCIRT-rated developer-builder with more than three decades of experience. The company has become a leader in adopting 10-Year Latent Defects Insurance (LDI), first introduced on its Parq Bexley development and now embedded into its pipeline.

[smartcode_project:default project_id=134951 project_image_fid=223727]

La Vera is the first development in Macquarie Park approved to offer this 10-year LDI policy, adding another layer of protection for purchasers and reinforcing the transparency of the construction process.

Urban Property Group CEO Patrick Elias says this assurance has become increasingly important for buyers navigating the off-the-plan market.

“Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been… Having LDI is a tool to portray the confidence that we have in our product, and a confidence we want buyers to share,” Urban Property Group CEO Patrick Elias said.

Urban Property Group's in-house construction team is forecasting a mid-2026 completion, with <a href="https://www.apartments.com.au/project-marketer/home789">HOME789</a> appointed as the project marketer.

[smartcode_project_cta:default project_id=134951]

Staff Writer

La Vera delivers a nature-connected address within Macquarie Park’s core

<a href="https://www.apartments.com.au/buildings/aura-by-aqualand-north-sydney-168-walker-street-north-sydney-nsw-2060">AURA</a>&nbsp;doesn’t just rise over North Sydney, it redefines it. Now in its final release, <a href="https://www.apartments.com.au/developers/aqualand-australia">Aqualand</a>’s $1 billion architectural statement is not just complete, but already reshaping the way people live, connect and dine in this rapidly evolving harbourside CBD.

Positioned beside the new Victoria Cross Metro Station and boasting panoramic views across Sydney Harbour, Aura’s 386 residences crown a mixed-use precinct designed with unapologetic ambition. The curvaceous sandstone-inspired form by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a>, paired with <a href="https://www.apartments.com.au/interior-designers/richards-stanisich">Richard Stanisich</a>’s understated interiors, sets a design tone that’s both monumental and intimate.

At its peak, literally, the two penthouses so spectacular they command their own names; La Davina and Il Magnate. The residents are spread across the&nbsp;entire top floor, offering what many consider the most refined residences ever built in North Sydney. Designed by Richard and Kirsten Stanisich, each four-bedroom home is meticulously crafted to evoke calm, space, and permanence.&nbsp;

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/VB70993aG-I?si=adRBlXQliYmYvaSz" title="YouTube video player" width="560"></iframe>

The kitchens are fully wrapped in natural stone, with integrated Gaggenau appliances, Sub-Zero fridges, concealed sculleries, and even a zip hydro tap delivering boiling, chilled and sparkling water on demand. A linear stone fireplace anchors the open-plan living space, dividing lounge and dining zones with quiet sophistication.&nbsp;

[smartcode_project:default project_id=30959 project_image_fid=292861]

The master suite, meanwhile, feels more like a private retreat, complete with a custom stone makeup vanity, walk-through dressing area, and spa-inspired ensuite with heated stone floors, a freestanding Villeroy &amp; Boch tub, and timber veneer joinery throughout.

Kirsten Stanisich, Director of Richards Stanisich, said the penthouses offer incredible scale reflective of a single residence.&nbsp;

“We sought inspiration for these remarkable residences from the classic top-floor Parisian apartment," Stanisich said.

"We looked at what made these French apartments so elegant and found it really came down to their scale. It was ultimately this generosity of space that we used for the AURA penthouses, where we’ve designed considered rooms with deep large-scale proportions."

[smartcode_project:default project_id=30959 project_image_fid=310337]

Everyday living at Aura feels no less elevated. A dedicated 24-hour concierge, Technogym fitness centre, sky dining terraces, and a resort-style pool serve a lifestyle designed to rival luxury hotels.

At street level, Aqualand’s own hospitality arm, Etymon Projects, curates a precinct of LA-style bistros, Japanese fine dining, and local wine bars, all seamlessly integrated into the building’s sculptural podium.

[smartcode_project:default project_id=30959 project_image_fid=310337]

This final chapter, aptly dubbed The Finale, is more than a sales phase, it’s an invitation to two of the most exclusive apartments ever to be built in North Sydney.

With limited residences remaining, buyers can access curated incentives including stamp duty rebates, rental guarantees, legal fee coverage, and even $20,000 towards dining within the precinct.

From generous one-bedders to The Icons, two singular penthouses priced well into prestige territory, Aura’s offerings reflect a scale and calibre rarely seen in urban Sydney. And with move-in now immediate, this is no longer a promise of future luxury. It’s happening.

[smartcode_project_cta:default project_id=30959]

Aqualand unveils penthouse collection at AURA By Aqualand in North Sydney

There’s no sign of the development wave that began several years ago slowing along Old Burleigh Road.

Around 10 new apartment developments are either underway or preparing to launch along the 800-metre strip stretching from the southern edge of Surfers Paradise towards the heart of Broadbeach, collectively adding just shy of 1,000 new apartments to the beachfront corridor.

The latest plans propose a further 30 apartments to replace an original six-unit walk-up on a 658 sqm site at <a href="https://www.apartments.com.au/new-apartments/20a-old-burleigh-road-surfers-paradise-qld-4217">20A Old Burleigh Road</a>. The 14-storey building has been designed by Ferro Chow Architecture, which recently joined the Elevation Architecture Group.

The developer behind the project is Geoffrey Booth, whose Future Liv In has focused on delivering rental accommodation across regional Australia.

<img alt="Old Burleigh Road" data-entity-type="file" data-entity-uuid="99d393e7-d404-43bc-80cb-6255c39b83d6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-01-05%20at%2012.28.44%E2%80%AFPM.png?VersionId=ZFT8F3mOny4M4ut.kFF3woC9WH9oR5gT" />

The Old Burleigh Road development will comprise 18 two-bedroom apartments, 10 three-bedroom apartments, and a single four-bedroom residence occupying the entirety of level 12. Above, the building will be crowned by a two-storey penthouse with its own private lift, several multi-purpose rooms, and two rooftop terraces — one featuring a puppy lawn and spa, the other offering a private swimming pool, sunset deck, and built-in barbecue.

Resident amenities will be located on the second level and include a pool with adjoining spa, cabana, and pool deck, along with an indoor residents’ lounge featuring a bar and an alfresco barbecue kitchen.

In the architectural statement submitted by Elevation Architecture, the project is referred to as “UMI”, which the firm says has been “inspired by the majestic hinterlands and shaped by the coastal climate”.

“It is an exemplar of how community living can still feel at one with nature, breathable, and deeply connected in place,” the architects noted.

They added that the site benefits from established building separation to adjoining towers, helping to maintain privacy, sunlight, and residential amenity, while still offering direct beach access within an urban setting.

“Drawing inspiration from the Gold Coast hinterlands and the region’s natural landscape, the podium and tower detail highlights the contrasting elements of treetop green and cliff-face peach. The vibrant texture and materiality shaped by time has a richness in depth and character.”

<img alt="Old Burleigh Road" data-entity-type="file" data-entity-uuid="b3d6c923-a0ab-4d74-86da-177313447e8e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-01-05%20at%2012.28.38%E2%80%AFPM.png?VersionId=i2fygmoVQM6hWpbATTAW_yTitoMTrnI1" />

Old Burleigh Road has become a hotspot for developers, with the three-tower Jewel development kickstarting a wave of projects up and down the strip when it was completed in 2020.

Currently under construction and approaching completion is <a href="https://www.apartments.com.au/new-apartments/faro-broadbeach-123-old-burleigh-road-broadbeach-qld-4218">FARO Broadbeach</a> by 5Point and Bottega, 21 large-scale half- and full-floor apartments. 5Point is also behind the recently launched <a href="https://www.apartments.com.au/new-apartments/lumara-108-old-burleigh-road-broadbeach-qld-4218">Lumara</a>, another 37 apartments to add to the pipeline.

Luxury builder GRAYA is progressing construction on <a href="https://www.apartments.com.au/new-apartments/enclave-by-graya-118-old-burleigh-road-broadbeach-qld-4218">Enclave</a>, its first Gold Coast tower, while Polycell remains the most active developer on the street. They are preparing to launch <a href="https://www.apartments.com.au/new-apartments/sandpiper-broadbeach-155-old-burleigh-road-broadbeach-qld-4218">Sandpiper</a>, a 50-storey redevelopment of the former Sandpiper Holiday Resort that will deliver around 200 apartments alongside extensive resident amenity. The group also has another 130-apartment project approved nearby, as does <a href="https://www.apartments.com.au/news/qld/dvb-approved-for-second-broadbeach-apartment-development">Dean Gallagher’s DVB Projects</a>.

Joel Robinson

First look: Old Burleigh Road apartment development wave continues

Sunshine Coast developer Habitat Development Group continues to position itself as one of the region’s largest new apartment developers.

Its latest project is in Maroochydore, where it is currently delivering <a href="https://www.apartments.com.au/new-apartments/the-millwell-2-millwell-road-east-maroochydore-qld-4558">The Millwell</a>. Adjacent to the new 53-hectare Maroochydore City Centre project, Habitat is planning a further 180 apartments on a 3,468 sqm site at <a href="https://www.apartments.com.au/new-apartments/132-136-aerodrome-road-maroochydore-qld-4558">132–136 Aerodrome Road</a>. The site was purchased with approval for a smaller 13-storey, 103-unit building.

Habitat will demolish the two existing retail centres, currently home to the Salvation Army Family Store and Neighbours Aid, and replace them with an 18-storey building featuring the significant rooftop amenities that have become a hallmark of Habitat developments in recent years. The rooftop will include both indoor and outdoor spaces, anchored by an infinity swimming pool.

<img alt="Maroochydore" data-entity-type="file" data-entity-uuid="ad434d07-666b-4614-b33e-530ad6a2d261" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-01-05%20at%2010.12.33%E2%80%AFAM.png?VersionId=7pyLsPWKQuwv0us3_v.9DmbzEc2VZe9Z" />

There will be a mix of one- to four-bedroom apartments.

The Development Assessment Report, submitted to the Sunshine Coast Council, says the proposal&nbsp;is not speculative, but a response to both zoning intent and demonstrated housing need.

“The proposed development represents an appropriate and logical intensification of the site, consistent with the planning framework and the intended urban outcomes for the locality.”

Across the Sunshine Coast, councils are increasingly scrutinising not just height or yield, but whether new projects genuinely align with the long-term structure plans underpinning growth corridors. The&nbsp;ASTP Planning Report&nbsp;reinforces the approach, noting that the project has been shaped around site responsiveness rather than generic typology.

“The development has been designed to respond to the physical constraints and opportunities of the site, while delivering a high-quality residential outcome that integrates with the existing and emerging urban context.”

<img alt="Habitat" data-entity-type="file" data-entity-uuid="3a03fc54-4ca5-4868-88d0-eeced70604e2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-01-05%20at%2010.12.28%E2%80%AFAM.png?VersionId=1pkK3lJrrZjkghTLBReM2zatcas4Nc4B" />

In mid-2025, Habitat, a developer that also builds its own projects, commenced construction on The Millwell, located just over one kilometre from the new proposal. The Millwell will comprise more than 200 apartments across two eight-storey buildings.

Habitat also has two projects on Lake Kawana in Birtinya: <a href="https://www.apartments.com.au/new-apartments/st-clair-birtinya-930-931-waterside-retreat-birtinya-qld-4575">St Clair</a>, a 200-unit, two-building development launched last year and set to welcome buyers this year; and Esperance, a 175-apartment project currently progressing through the development approval process.

First look: Habitat continues to bolster Sunshine Coast apartment pipeline with Maroochydore development plans

John Camilleri, the breeder of legendary racehorse Winx, is set to deliver a landmark two-tower beachfront development that would redefine the Surfers Paradise skyline.

Camilleri, who spent around $100 million acquiring development sites across the Gold Coast in 2025, has lodged plans for two new towers on the dress-circle stretch of Garfield Terrace, just two days before Christmas.

In assembling the site, Camilleri's Celestino Developments has effectively acquired the 71 Garfield project by Iris Capital and AALTO by Weiya Holdings, creating an unrivalled <a href="https://www.apartments.com.au/new-apartments/63-79-garfield-terrace-surfers-paradise-qld-4217">4,000 sqm beachfront holding along Garfield Terrace</a>.

The proposal comprises two residential towers of 55 and 48 storeys, linked by a dramatic skybridge which will home “exclusive VIP and wellness amenities.”

In total, the development would deliver 275 two-, three- and four-bedroom apartments across the two towers, rising above a shared landscaped podium that incorporates a central green space and a beachfront swimming pool stretching more than 90 metres.

<img alt="DBI" data-entity-type="file" data-entity-uuid="097900f3-6bef-4919-b168-b08f2f762876" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-30%20at%209.37.58%E2%80%AFAM.png?VersionId=et0SpmcvaPPVrexI_zWi46BVFtZBxAzx" />

Architecture firm DBI, in documents submitted to Gold Coast City Council, said the project at 63–79 Garfield Terrace would “establish a new benchmark for beachfront residential living on the Gold Coast.”

"The project occupies a rare, uninterrupted oceanfront site and has been shaped by a design philosophy that merges architectural elegance with environmental responsiveness and a carefully curated lifestyle experience. Together, the 48-storey North Tower and 55-storey South Tower form a distinctive twin-tower composition whose dynamic silhouette will make a significant contribution to the Surfers Paradise skyline."

DBI said the architectural language draws inspiration from the fluidity and movement of the coastal landscape.

"Each tower is defined by organic, curving forms and continuous balcony ribbons that wrap the buildings, providing deep shading, enhancing environmental performance, and reinforcing the rhythmic, sculptural expression of the façade. These balcony forms also reduce the apparent mass of the towers while maintaining strong visual continuity from podium to summit. Sculpted reflective downturns run along the western spine of both towers, shifting and lifting as they extend upwards to frame service zones and open eastward to maximise ocean views."

<img alt="Garfield" data-entity-type="file" data-entity-uuid="a2a00ce3-a0e9-45d6-b4b5-b7baed592ac5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-30%20at%209.53.40%E2%80%AFAM.png?VersionId=DnruWV1dhLrtXOeElwekyd7vPq2gw55t" />

The project’s most striking feature is the skybridge at level 45, which will house executive lounges, formal dining spaces, wellness facilities and panoramic ocean-facing views.

“The skybridge enhances the identity of the development, promotes social interaction, and delivers a lifestyle experience not found elsewhere on the Gold Coast,” DBI added.

The podium will host an extensive suite of recreational amenities, including resident lounges, private dining rooms, a large open green lawn, and the signature 90-metre pool stretching along the beachfront. The pool is divided into lap, lounge and children’s zones.

The southern end of the podium will accommodate additional wellness facilities, including a gymnasium, plunge pools, treatment rooms and a dedicated yoga lawn.

<img alt="Garfield" data-entity-type="file" data-entity-uuid="ee1b4f25-231f-4804-83b1-a573a1481962" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-30%20at%209.55.47%E2%80%AFAM.png?VersionId=zObzIA3D5w7EwqPsHjr2pKrA4vbB28zL" />

There will be 127 apartments in the North Tower and 148 in the South Tower, including multiple penthouses, while the Enderley Avenue and Oceanway frontages will be activated by a series of food and beverage tenancies.

Camilleri emerged as the most active site acquirer on the Gold Coast in 2025. He spent just over $30 million acquiring Pacific Point, a 10-level Surfers Paradise apartment block and an adjoining three-level duplex, from fellow racing identity and Aquis billionaire Tony Fung. Plans are now underway for a 93-apartment, 40-storey tower on the 1,682 sqm site.

He also paid $53.65 million for the 1,500 sqm Garfield Terrace site previously marketed as AALTO by Weiya Holdings, before acquiring the adjoining parcel from hotel billionaire Sam Arnaout’s Iris Capital, the developer behind V&amp;A Broadbeach.

First look exclusive: Billionaire Winx breeder’s bold two-tower Surfers Paradise play with 45th-storey skybridge

Commercial Demand

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In the race to adopt electric vehicles, Australia is <a href="http://www.tai.org.au/sites/defualt/files/P233%20If%20you%20build%20it%20they%20will%20charge%20FINAL%20-%20October%202017.pdf" target="_blank">sputtering along in the slow lane</a>. Rather than growing, Australian sales of electric cars are actually in decline. In 2016 they represented just <a href="http://www.fcai.com.au/sales/cars" target="_blank">0.02% of new car sales</a> – even lower than in 2013.
Contrast that with Norway, the country with the highest levels of electric car adoption. <a href="http://www.eafo.eu/europe" target="_blank">Almost 30% of new cars sold there in 2016 were electric</a>.
Why are Australian motorists rejecting electric cars while those in other advanced economies are <a href="http://www.eafo.eu/europe" target="_blank">embracing them</a>? As the National Roads and Motorists’ Association (NRMA) has <a href="http://thehub.nrma.com.au/drive/what-you-need-know-about-electric-cars" target="_blank">previously pointed out</a>, high vehicle prices are an obvious barrier. But that is only part of the answer.
Our current research, in which we used online questionnaires to survey Australian motorists’ attitudes to electric vehicles, suggests that a comprehensive network of recharging stations, particularly on popular intercity routes, is essential to encourage drivers to go electric. This seems to be even more important than subsidising the cost of the cars themselves.
Rechargers on highways, in country towns and at service centres need to be fast and convenient, so that motorists aren’t <a href="https://www.scientificamerican.com/article/fast-charge-plugs-do-not-fit-all-electric-cars/" target="_blank">unduly delayed</a>. Without the right charging infrastructure, there is no foundation to allow Australian motorists to go electric with confidence.
The average Australian motorist drives 36km per day for all passenger vehicles (see table 8 <a href="https://www.propertyobserver.com.au/http://www.abs.gov.au/ausstats/abs@.nsf/mf/9208.0">here</a>). This is well within the <a href="https://www.greenvehicleguide.gov.au" target="_blank">range of modern fully electric vehicles</a> – more than 150km for the models on sale in Australia – and actually less than Norwegians, who drive <a href="https://www.toi.no/getfile.php?mmfileid=43161" target="_blank">more than 40km a day on average</a>.
Norwegian drivers also enjoy the <a href="http://www.theicct.org/sites/default/files/publications/ICCT_GlobalZEVAlliance_201509.pdf" target="_blank">highest proportion of rechargers in the world</a>. But on another criterion the world leader is Estonia. It’s credited as the first nation to build a <a href="http://elmo.ee/elmo/" target="_blank">country-wide network</a>, with a recharging station every 50km on major roads, and one in every town with a population of at least 5,000.
<h2>Bumps in the road</h2>
Every country that has successfully adopted electric cars has done so by providing an effective recharging network. But we can learn from what has gone wrong in some of these places too.
Our research suggests that governments need to ensure that recharging stations work for motorists, rather than just for the network providers. Recharge points should have standardised fittings, easy payment options such as credit and debit card facilities, and prompt maintenance – all features of existing fuel stations.
Imagine if you could only fill up with petrol by pre-registering with a network, such as Caltex or Shell, and making sure you had paid in advance before taking a long trip. It sounds ridiculous, but that is the situation electric motorists face in some places.
Britain has multiple subscriber-only recharging networks, which frequently have chargers that are out of order. Recently, sales of fully electric vehicles have stagnated and it has only been a surge in sales of plug-in hybrids that <a href="http://www.eafo.eu/content/united-kingdom" target="_blank">boosted sales to 1.45% in 2016, up from 1.09% in 2015</a>.
California has solved that problem by introducing <a href="http://leginfo.legislature.ca.gov/faces/billNavClient.xhtml?bill_id=201320140SB454" target="_blank">legislation</a> to ensure that motorists don’t have to join a network and can pay for the electricity by credit card. As a result of this and other measures, such as <a href="http://www.theicct.org/sites/default/files/publications/ICCT_EV-promotion-US-cities_20150729.pdf" target="_blank">privileged lane access and support for workplace recharging</a>, electric cars now represent <a href="http://www.latimes.com/business/autos/la-fi-hy-electric-vehicles-20170517-story" target="_blank">4.8% of Californian car sales</a>, far outstripping the <a href="https://insideevs.com/monthly-plug-in-sales-scorecard/" target="_blank">US average of 0.9% in 2016</a>.
<a href="https://leginfo.legislature.ca.gov/faces/billNavClient.xhtml?bill_id=201320140AB2565" target="_blank">Another Californian law</a> ensures that the 40% of Californians who live in rental properties can <a href="http://cleantechnica.com/2014/08/31/california-bill-renters-install-electric-car-charging-stations/" target="_blank">recharge their cars at home</a>. As Australians are increasingly living in high-rise developments, ensuring car parks have the capacity to recharge cars overnight will be critical. The technology exists to enable separate billing for each car, so making sure strata management allows installation will be essential for people in units and flats to adopt this low-polluting technology.
Introducing such legislation will be a necessary first step. China <a href="https://www.bloomberg.com/news/articles/2017-09-%2010/china-s-fossil-fuel-deadline-shifts-focus-to-electric-car-race-j7fktx9z?mc_cid=5b63d2c68d&amp;mc_eid=5fb912b537" target="_blank">recently announced</a> that it is working towards a timetable to end production and sales of internal combustion engine vehicles. It’s a good example, which Australia would be wise to follow.
This will be critical if we are to reduce transport-related emissions, toxic air pollution and noise, and improve our fuel security in the face of increasingly unstable geopolitical circumstances and our <a href="https://theconversation.com/running-on-empty-australias-risky-approach-to-oil-supplies-23619" target="_blank">growing dependence on imported fuel</a>.
Without an adequate recharging network, Australian motorists risk being left in the rear-view mirror as the rest of the world’s drivers go electric. With electric cars forecast to reach <a href="https://www.bloomberg.com/news/articles/2017-07-06/the-electric-car-revolution-%20is-accelerating" target="_blank">price equivalency with petrol cars by 2025</a>, we need to help Australians overcome their anxieties about running out of charge before they reach their destination.
Governments can do this by mandating a comprehensive open-access recharging network to speed the uptake of electric vehicles. We won’t be able to fix the problem overnight but we have to get started. There is no shortage of other countries to look to for ideas.
<hr>
<img src="https://counter.theconversation.com/content/86478/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">This article was coauthored by <a href="http://www.ies.unsw.edu.au/our-people/gail-broadbent" target="_blank">Gail Broadbent</a>, a postgraduate researcher at UNSW’s School of Biological, Earth and Environmental Science.
<a href="https://theconversation.com/profiles/graciela-metternicht-159393" target="_blank">Graciela Metternicht</a>, Professor of Environmental Geography, School of Biological Earth and Environmental Sciences, <a href="http://theconversation.com/institutions/unsw-1414" target="_blank">UNSW</a> and <a href="https://theconversation.com/profiles/danielle-drozdzewski-254076" target="_blank">Danielle Drozdzewski</a>, Senior Lecturer in Human Geography, <a href="http://theconversation.com/institutions/unsw-1414" target="_blank">UNSW</a>
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/negative-charge-why-is-australia-so-slow-at-adopting-electric-cars-86478" target="_blank">original article</a>.
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gm-EZmJcEkFHp

Why is Australia so slow at adopting electric cars?

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Construction costs for industrial and commercial buildings remained unchanged in 2016 compared with last year, according to Burgess Rawson's latest 2016 Industrial Building Rates Update in Market View.

The indicative costs were compiled from one of Perth's leading industrial and commercial building companies and varied from $610 to $810 per sqm for gross building area, which was divided into three ranges spanning 500 to 5000 square metre, as evident from the following table.

<a href="/images/2016/04/26/Screen%20Shot%202016-04-26%20at%2010.17.21%20PM.png" target="_blank">Click to enlarge</a>

<img alt="" src="/images/2016/04/26/Screen%20Shot%202016-04-26%20at%2010.17.21%20PM.png">

<a href="/images/2016/04/26/Screen%20Shot%202016-04-26%20at%2010.45.23%20PM.png" target="_blank">Click to enlarge</a>

 <img alt="" src="/images/2016/04/26/Screen%20Shot%202016-04-26%20at%2010.45.23%20PM.png">

The development costs listed in the table above assume the following level of construction:

For warehouses: Concrete tilt construction; 8.5 m roof height; concrete floor; steel truss insulated roof and high bay lighting

For offices: Modern design with part glazed frontage, carpets, ceiling tiles, recessed lighting, ducted reverse cycle air conditioning, office component comprising about 10-15 percent of gross warehouse area.

[smartcode_project:default project_id=5910]
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Commercial building costs unchanged from last year: Burgess Rawson

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A Woolworths supermarket in Burnie on Tasmania's North West coast has been snapped up by a Melbourne investor for $18.1 million.
The property at 212-230 Mount Street was sold through an expression of interest campaign managed by Graeme Watson and Shaun Venables of Burgess Rawson.
The net rental from the single-tenanted property is $1,236,483 pa plus GST, implying a yield of 6.8 per cent.
The recently refurbished 4,000 sqm supermarket on the 10,978 sqm site is on a renewed 20-year lease to 2031 plus options to 2051.
It also comes with a car park for 195 vehicles.
The property was offloaded by a syndicate of three Tasmanian investors. 
Burnie, a major commercial centre and Tasmania's major port, has an estimated catchment population in excess of 50,000.
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Woolworths in Tasmania's Burnie bought by Melbourne investor for $18.1 million 

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Sentiment in the Australian commercial property market hit a new high in Q4, but the headline index continues to mask big differences across property sectors and states, according to NAB’s quarterly tracker on the state of the sector.
The NAB Commercial Property Index rose to +17 points in Q4 from +10 in Q3, a new high since it first came out in 2010.
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By sector, CBD hotels and office markets are leading the way. NSW and Victoria are also out-performing, but WA is lagging considerably, it showed.
Property professionals noted a deterioration in their funding conditions on both debt and equity fronts in Q4, with tighter credit conditions also reflected in higher pre-commitment hurdles for new developments. 
The improvement in the overall index was led by CBD hotels, followed by office and retail. Sentiment in industrial property markets fell and is now weakest overall. 
Looking ahead, property professionals operating in CBD hotel markets are most confident, which may reflect a shortage of supply and the broader pick up in tourism on the back of the lower AUD, along with a pick-up in business travel. 
<a href="/images/2016/03/2/Screen%20Shot%202016-03-02%20at%2012.15.56%20PM.png" target="_blank">Click to enlarge</a>
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Confidence is lowest (albeit positive) among retail property operators, perhaps reflecting expectations that the impetus to household consumption from the housing market will wane through 2016 as house price growth slows. 
The headline Commercial Property Index also continues to hide some very big differences in performance by state. 
“NSW and Victoria remain at the forefront of the improvement in market sentiment, with WA still wallowing in deeply negative territory,” said NAB Group chief economist Alan Oster. 
NSW would remain the most optimistic state for commercial property in the next two years, with Queensland tipped to be the big improver and WA the most pessimistic. 
Survey respondents believe that CBD hotels will provide the best capital returns in the next 1-2 years (4% in each year), followed by office (1% &amp; 1.2%), with significantly higher returns in NSW and Victoria masking further big corrections in WA. Capital returns are expected to be lowest for retail property (0.4% &amp; 0.6%). 
<a href="/images/2016/03/2/Screen%20Shot%202016-03-02%20at%2012.18.46%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/03/2/Screen%20Shot%202016-03-02%20at%2012.18.46%20PM.png" alt="">
In leasing markets, office property is expected to provide the best returns over the next 1-2 years (0.7% &amp; 1.7%), with rental growth in NSW and Victoria leading the way. In contrast, office rents in WA are expected to continue falling heavily amid elevated and climbing vacancy rates, significant over-supply and weak tenant demand. 
In the national industrial market, the outlook for rents has been pared back a little (0.2% &amp; 0.4%) with rental returns for retail property also softer (0.2% &amp; 0.5%). 
Despite an overall improvement in commercial property market sentiment, the survey reveals that fewer developers are planning to start new works in the short term. 
“Funding issues may be playing a role here, with more developers indicating that their debt and equity funding situations had deteriorated,” said Oster. 
Tighter credit conditions are also being reflected in higher pre-commitment hurdles for new developments - up for the third consecutive quarter to 53.5% in Q4 and expected to tighten further over the next 6-12 months. 
Around 250 panel respondents participated in the Q4 2015 survey, consisting of real estate agents/managers, property developers, asset/fund managers and owners/investors. 
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Sentiment at record high in NAB Q4 commercial property survey  

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Demand from local developers and Chinese investors in CBD office markets is spilling over into the suburb market, according to new research from Colliers International.
Colliers International Managing Director of Capital Markets &amp; Investment Sales John Marasco said a number of groups, have recently created listed metropolitan office funds but offshore and private buyers are creating demand for metropolitan office space.
"Institutional buyers traditionally prefer the established metropolitan markets of Parramatta, North Sydney and St Leonards in Sydney, Fortitude Valley and West End in Brisbane, and St Kilda Road and Southbank in Melbourne,” he said.
“Given the strong demand for quality assets in our metropolitan markets, it is not surprising that there has been yield compression across most precincts. In Parramatta, yields for A grade stock now average 7.63%, down from 8% per cent in March 2015.
“In St Leonards, yields have compressed by 50bp over the six months to September 2015, to now average 8%, while in Melbourne, St Kilda Road A Grade yields now average 7.63%, down from 7.88%  in March 2015, and City Fringe yields now average 7%."
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