International developer&nbsp;<a href="https://www.apartments.com.au/developers/spg-land">SPG Land</a> is preparing to re-launch its long-awaited $1.5 billion <a href="https://www.apartments.com.au/new-apartments/paradiso-place-surfers-paradise-103-ferny-avenue-surfers-paradise-qld-4217">Paradiso Place</a> development at Budds Beach, bringing a new price point to the Surfers Paradise apartment market.

The developer will release one-bedroom apartments from $825,000 and two-bedroom apartments from $1.24 million in the three-tower development.

According to Urbis, the starting price for the two-bedroom apartments is more than $400,000 below the weighted average sale price for comparable two-bedroom apartments in Surfers Paradise during 2025, which was pinned at $1.7 million.

&nbsp;

Urbis reported quarterly average sale prices for new two-bedroom, two-bathroom apartments ranged from around $1.2 million to $1.7 million throughout 2025, peaking in the December quarter.

[smartcode_project:default project_id=106566 project_image_fid=185853]

Paradiso Place is now moving into its formal sales campaign, with a limited early-release opportunity available ahead of the public launch.

The development will comprise 845 apartments across three towers rising 40, 41 and 44 storeys from a 1.15-hectare site spanning an entire city block. The towers will sit above a new retail precinct.

"Paradiso Place represents a rare opportunity in today's market, offering premium apartments at a price point that is significantly more competitive than anything else currently available," SPG Land Sales Director Brad McMahon said.

"When you look at comparable new developments across Surfers Paradise, Main Beach and the Southern Beaches precinct, buyers are typically paying hundreds of thousands more for a similar product.

"The scale of this project and the developer-builder construction model allows us to unlock efficiencies that smaller developments simply cannot achieve. We are passing those benefits directly to buyers, while still delivering a five-star residential experience with an unmatched lifestyle."

[smartcode_project:default project_id=106566 project_image_fid=374280]

Each of the three towers designed by Rothelowman will have its own podium, connected by an elevated skybridge network to create a beachside village for residents. The resident amenity has been designed to rival a five-star hotel, with private dining rooms, resident lounges and entertainment spaces.

McMahon said the pricing strategy was a deliberate response to the current market.

"What Paradiso Place offers is a unique balance, genuine value within a premium market. Buyers are not compromising on quality, design or amenity, they are gaining access to it at a more competitive price point at a time when prices across the Gold Coast continue to reach new highs."

[smartcode_project:default project_id=106566 project_image_fid=362498]

Located around 100 metres from the beach and within walking distance of the Surfers Paradise North light rail station, Paradiso Place occupies one of the Gold Coast's most tightly held beachfront precincts.

Construction is continuing to progress, with eight of the project's 112 foundation piles now complete. Excavation has also commenced on the first diaphragm wall panel, with the first concrete poured on 15 June, marking a key milestone in the project's early works program.

[smartcode_project_cta:default project_id=106566]

Joel Robinson

SPG Land launches $1.5 billion Paradiso Place at attractive price point

Luxury developer-builder <a href="https://www.apartments.com.au/developers/lowe-living">Lowe Living</a> has achieved a new Victorian benchmark for an off-the-plan apartment, with the sale of two penthouses at its ultra-exclusive Maison Savoy development in Brighton.

The two penthouses achieved a combined sale rate of $49,926 per sqm. Both transactions eclipsed the previous identified Victorian off-the-plan price-per-square-metre benchmark, set by the 449 sqm apartment at Como Toorak, which sold at $46,659 per sqm.

[smartcode_project:default project_id=140818 project_image_fid=366473]

<a href="https://www.apartments.com.au/new-apartments/maison-savoy-brighton-150-esplanade-brighton-vic-3186">Maison Savoy</a>, Lowe Living's redevelopment of the former Brighton Savoy Hotel on absolute beachfront land at 150 The Esplanade, Brighton, has gained significant momentum since launching just eight weeks ago. Around 30 per cent of the project's 19 residences have already been secured, generating approximately $45 million in sales.

"Securing two of the three penthouse sales at this stage, within eight weeks of launching to market speaks to the confidence our clients place in Lowe Living," Lowe Living co-founder Emma Lowe said.

"They know we'll be with them through every stage of the journey, and that assurance is something we've worked hard to earn and never take for granted."

[smartcode_project:default project_id=140818 project_image_fid=366474]

Lowe said Maison Savoy was conceived as a genuine alternative to a prestige Brighton home, combining house-scale proportions with the convenience, security and lock-up-and-leave appeal of apartment living.

Lowe Living co-founder Tim Lowe said the early sales success demonstrated the resilience of Melbourne's prestige market and highlighted the growing demand for house-sized apartments among ultra-high-net-worth buyers.

"The Melbourne market has definitely been tested in recent years, with interest rates and global economic factors all creating a period of uncertainty across the real estate sector. The sales success at Maison Savoy however demonstrates that confidence remains exceptionally strong at the top end of the market.

"The prestige market is being driven by long-term lifestyle decisions rather than short-term market sentiment, which continues to create a level of certainty that befits an absolute beachfront property in a blue-chip location like Brighton.

"Brighton's fundamentals remain among the strongest in Melbourne, with limited new supply, enduring demand from an overwhelmingly local owner-occupier market, and a rare combination of beachfront amenity and proximity to the CBD."

[smartcode_project:default project_id=140818 project_image_fid=374378]

According to Cotality, Brighton remains one of Melbourne's most tightly held prestige suburbs, with an average ownership tenure of 15.3 years for houses and 12.3 years for units, while more than 73 per cent of homes are owner-occupied.

Tim Lowe said selling two of the project's three penthouses so early in the campaign was an uncommon result.

"This sales result is a reflection of quality and understanding the local market. It's incredibly rare to transact the penthouses so early in a sales campaign in any project so to have sold two of the three penthouses at Maison Savoy so soon after launch, all in-house without any external sales agency appointed, is reflective of our careful consideration of our buyers' needs and lifestyle.

"This is knowledge that is accumulated not just from data and demographic analysis, but via a deeply embedded understanding of how this type of buyer wants to live and feel in their home. We pride ourselves on getting to know our clients personally, and over the last 10 years we have been able to refine our product offering by talking one-on-one with our clients about their design and floorplan preferences.

"Being a fully integrated developer-builder with an in-house design and sales team allows us to lead every part of the process and ensure the highest quality of product and service at every touchpoint. It's a really important part of our DNA and the recent sales success at Maison Savoy indicates that our clients and purchasers are resonating with this point of difference.

"It reinforces that demand remains strong for thoughtfully designed residences that offer rarity, lifestyle and long-term value in tightly held locations, which ultimately validates Maison Savoy's positioning as creating a new benchmark for house-scale, wellness-led apartment living on Brighton's beachfront."

&nbsp;

[smartcode_project:default project_id=140818 project_image_fid=366480]

The residences at Maison Savoy start from 295 sqm, with most enjoying uninterrupted views across Port Phillip Bay. The project sits moments from the Brighton Bathing Boxes, Royal Brighton Yacht Club, Middle Brighton Baths and Church Street's retail and dining precinct.

A key feature of the development is its private residents-only bathhouse, curated by the founder of Aurora Spa &amp; Bathhouse and modelled on traditional European bathing rituals and the award-winning Sorrento bathhouse.

The wellness offering includes a hydrotherapy pool, salt room, sauna, steam room, cold plunge pool, foot activation zone and a Vichy rainfall bed, one of only a handful in Australia. Residents will also have access to a Technogym studio, lounge spaces and a dedicated concierge service offering everything from morning coffee delivery and restaurant bookings to dry cleaning and home coordination.

"Wellness-led design has become a defining factor for luxury buyers," Emma Lowe said.

"Purchasers increasingly value homes that enhance wellbeing through thoughtful design, private amenity, privacy and liveability."

The penthouse purchasers are now undertaking a bespoke customisation process curated personally by architect Pete Kennon and the Lowe Living team, one of the developer's signature service offerings.

Construction on the $160 million transformation of the former Brighton Savoy Hotel site commenced last month, with completion expected in early 2028. The project has secured funding from NAB alongside development partner Monark.

Just one penthouse remains available, along with a limited number of two and three-bedroom residences starting from $3.75 million.

Lowe Living currently has eight projects on the market across Melbourne and recently celebrated its 10th anniversary, having grown a $1 billion development pipeline alongside a $350 million construction pipeline.

&nbsp;

[smartcode_project_cta:default project_id=140818]

Lowe Living set new Melbourne off the plan apartment record

For more than three decades, Hyecorp has been delivering residential projects across Sydney's Lower North Shore, building a portfolio centred on design-led apartment living in some of the city's most established neighbourhoods.

Hyecorp recently launched the latest in its long line of apartment developments, Celine, a 29-storey tower on Archer Street in Chatswood. Like the majority of the developer's projects, Celine caters to a broad buyer demographic, offering a mix of one, two, three and four-bedroom apartments, all designed with owner-occupiers in mind.

Functionality and flexibility are often buzzwords in the new apartment market, but they sit at the core of Hyecorp's design philosophy.

Hyecorp Joint Managing Director Stephen Abolakian says the developer understands it isn't designing apartments for today's needs alone, but for how buyers will live several years into the future.

"When we launch our projects we need to be aware that these developments aren't finished for several years," Abolakian says.

"That home office in the here and now might be a nursery by the time the project completes for a prospective buyer, so we need to think about how the apartment spaces function for future uses so there's longevity in the ownership."

Celine's architects, Fuse, followed the same philosophy, saying the design extends well beyond aesthetics.

"Celine focuses on timeless architectural form and functionality, with a strong emphasis on light, proportion and materiality. The design responds to the urban context of Chatswood while delivering calm, highly liveable interiors that feel both contemporary and enduring. The floorplans have been carefully resolved to maximise usability and outperform typical market offerings in terms of efficiency and liveability."

Most apartments incorporate multipurpose rooms designed for flexibility. Each includes an integrated desk and a standard Murphy pull-down single bed, allowing the space to transition from a home office or study to guest accommodation as needs change. The layouts have also been designed to maximise natural light, storage and overall functionality.

One and two-bedroom apartments feature Miele appliances, while three and four-bedroom residences are appointed with integrated Gaggenau appliances and Taj Mahal stone benchtops.

Buyers who purchase early in the construction process can also take advantage of Hyecorp's "Live Your Way" interior design service, allowing them to personalise finishes and tailor elements of their home to suit their own lifestyle. It's a feature designed to appeal to owner-occupiers who want their apartment to feel uniquely theirs from the day they move in.

[smartcode_project:default project_id=149594 project_image_fid=362614]

While flexible floorplans have become a hallmark of Hyecorp's apartment design, the developer has also continued to place significant emphasis on resident amenity.

As buyers increasingly expect more from apartment living, shared spaces have evolved beyond a gym and barbecue area. They are now an extension of the home, providing spaces to relax, exercise, entertain and connect with neighbours.

At Celine, the resident amenity has been designed with a focus on wellness, centred on the level six podium. An infinity-edge swimming pool, spa, sauna and fully equipped gym are complemented by barbecue facilities and a residents' lounge, creating a range of spaces for relaxation, recreation and social connection above the streets of Chatswood.

Practical conveniences have also been integrated throughout the building, including EV charging provisions, smart parcel lockers, bicycle storage, a pet wash station and dedicated car wash bays, reflecting the project's focus on making everyday living as seamless as possible.

[smartcode_project:default project_id=149594 project_image_fid=362633]

"Celine has been designed to deliver a refined residential experience that reflects the evolution of Chatswood into a premium urban centre,"&nbsp;Abolakian says.

"With over 30 years of experience delivering projects across Sydney's Lower North Shore, Hyecorp brings a deep understanding of what local buyers value. Every detail has been considered to balance luxury, functionality and long-term liveability. This is not just about apartments, but about creating a lasting residential address for discerning buyers."

Hyecorp, vertically-integrated builder-developer, is anticipating construction commencement later this year.

[smartcode_project_cta:default project_id=149594]

Hyecorp brings 30 years of Lower North Shore experience to Celine in Chatswood

Burgeoning South East Queensland developer <a href="https://www.apartments.com.au/developers/frank-developments">Frank Developments</a> is continuing to pad out its capital city development pipeline.

The developer, led by Frank Licastro, has its sights set on Kingsford Smith Drive in Hamilton, where it is planning <a href="https://www.apartments.com.au/new-apartments/avela-60-kingsford-smith-drive-albion-qld-4010">AVELA</a>, a 166-apartment development across three towers that tier down from 28 storeys to 19 and 17.

The towers will rise above the iconic Breakfast Creek Hotel.

Frank has brought on Melbourne architecture practice <a href="https://www.apartments.com.au/architects/rob-kennon-architects">Kennon</a> to design the building, conceived as a “defining architectural marker where the airport corridor meets the inner city.”

<img alt="First look: Frank Developments plans sculptural AVELA for Brisbane's Breakfast Creek gateway" data-entity-type="file" data-entity-uuid="e787c64e-f0a4-4725-891e-e86b40ee5c5c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/AVELA.png?VersionId=1ulwuZ9w2vQ2td7v.J2zUI7Ih_DT4Kwz" />

Kennon describes the project as a once-in-a-generation opportunity.

"Positioned at the northern gateway of Brisbane's primary CBD corridor, this project represents a singular moment in the city's urban evolution, one that will not come again," the architecture practice said in the documents submitted to the Brisbane City Council.

"Where the airport and world beyond meets the city, the building will rise as a sculptural landmark, a defining piece of architecture that signals arrival into Brisbane and anchors the connection between the city and the communities to its north."

<img alt="First look: Frank Developments plans sculptural AVELA for Brisbane's Breakfast Creek gateway" data-entity-type="file" data-entity-uuid="d572bf62-a98d-4847-95d0-889e3d3283e1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/AVELA%20podium.png?VersionId=6.Ax4jBzTbY5ahm55iaMWNR03ODhDQSm" />

The development is centred around owner-occupier apartments, with a mix of two, three and four-bedroom residences designed to capitalise on city and river views.

Four basement levels accommodate resident parking, allowing the podium to prioritise pedestrian activity and public-facing uses like ground-floor retail, a cafe, a&nbsp;neighbourhood grocer, and a public accessible indoor pickleball court and event space.&nbsp;

There will be nearly 2,000 sqm of communal wellness and recreation facilities across three levels.

<img alt="First look: Frank Developments plans sculptural AVELA for Brisbane's Breakfast Creek gateway" data-entity-type="file" data-entity-uuid="c5ac3cbf-3c11-4219-89f3-e12d9e0f9ffd" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/AVELA%20podium%20A.png?VersionId=_.4zd1HLCKa1s6I_oxkY4NNqX6o3Yevn" />

&nbsp;

Frank Developments has increasingly focused on design-led residential projects across South East Queensland.

AVELA is Licastro's second on Kingsford Smith Drive following <a href="https://www.apartments.com.au/new-apartments/alba-92-kingsford-smith-drive-hamilton-qld-4007">Alba</a>, 85 apartments just down the road. The developer has <a href="https://www.apartments.com.au/new-apartments/mira-61-garfield-terrace-surfers-paradise-qld-4217">MIRA</a> and <a href="https://www.apartments.com.au/new-apartments/myst-burleigh-heads-270-the-esplanade-miami-qld-4220">MYST</a> on the Gold Coast, as well as <a href="https://www.apartments.com.au/new-apartments/murano-teneriffe-37-wyandra-street-new-farm-qld-4005">Murano</a> coming up in Teneriffe and <a href="https://www.apartments.com.au/new-apartments/bel-air-33-oxlade-drive-new-farm-qld-4005">Bel Air in New Farm</a>.

Frank Developments plans sculptural AVELA for Brisbane's Breakfast Creek gateway

ASX-listed developer <a href="https://www.apartments.com.au/developers/stockland">Stockland</a>&nbsp;is continuing its push back into the new apartment market, filing plans for a prominent gateway site between Collingwood and East Melbourne.

The development giant, which moved back into the new apartment space when it announced Stanton Place in Sydney's Rosebery and have since filed plans for a 50-storey tower, are jumping into the off the plan Melbourne market.

They are hoping to create a mixed-use neighbourhood precinct for <a href="https://www.apartments.com.au/new-apartments/79-81-victoria-parade-collingwood-vic-3066">79-81 Victoria Parade</a>, replacing an existing commercial building with a scheme by <a href="https://www.apartments.com.au/architects/john-wardle-architects">Wardle</a>&nbsp;for 478 apartments,&nbsp;ground-floor retail, new public open spaces and a publicly accessible pedestrian laneway.

<img alt="First look: Stockland plans new mixed-use neighbourhood precinct for Collingwood gateway site" data-entity-type="file" data-entity-uuid="72dbbca9-3918-4073-afad-a0c0c35be8e7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/stockland%20pers.png?VersionId=bzMVUKKxvwuNK1m0v_td126Rgct32uk_" />

The design report identifies the public realm as a central driver of the proposal.

"Collingwood has limited access to high-quality parks and public open space, and the proposal delivers valuable new areas for respite, social interaction and fine-grain retail activity."

The development would deliver a diverse mix of housing, including studio, one, two and three-bedroom apartments alongside townhouse-style residences. Two basement levels are proposed beneath the development, providing resident and retail parking as well as extensive bicycle facilities.

Wardle's design draws heavily on Collingwood's industrial character, using articulated building forms, brickwork and robust materials inspired by the suburb's warehouse and manufacturing heritage. The built form has been broken into a series of smaller volumes to better respond to the surrounding streetscape while extensive communal gardens, rooftop amenities and shared resident spaces are integrated throughout the project.

<img alt="First look: Stockland plans new mixed-use neighbourhood precinct for Collingwood gateway site" data-entity-type="file" data-entity-uuid="7b2135ed-65df-4253-ad53-f216f06bd467" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/stockland%20podium.png?VersionId=l1B6Hqn8zs772VxH6L1fDPg0KHshan9v" />

The planning documents describe the existing office building as offering little engagement with the public realm, with the redevelopment intended to create a more permeable and active neighbourhood destination.

"The proposed scheme presents a significant opportunity to deliver a vibrant retail plaza and a local neighbourhood hub serving both existing and future Collingwood residents."

The 79–81 Victoria Parade site occupies a strategic location about 1.5 kilometres east of Melbourne's CBD, at the threshold between Collingwood and East Melbourne. It is well served by tram services along Victoria Parade and sits within walking distance of St Vincent's Hospital, Fitzroy Gardens, the Fitzroy activity centre and a broad range of employment, retail and hospitality destinations.

Stockland plans new mixed-use neighbourhood precinct for Collingwood gateway site

Knowledge City

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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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jrobinson-rf4aSBido9

Creating knowledge-based ecosystems through science and technology: Savills

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<img src="https://counter.theconversation.edu.au/content/81101/count.gif?distributor=republish-lightbox-advanced" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
A knowledge city has several characteristics, including diverse knowledge industries, key knowledge-producing infrastructure (such as universities and science parks), and a quality of life that enhances the city’s social and cultural milieu. 
To understand the impacts of these elements we have built a new Knowledge City Index for Australia. The index, released today, enables us to compare the strengths and weaknesses of 25 Australian cities. 
The idea of a knowledge city is not new. But, until now, few have gone further in assessing knowledge cities than definitions to create measures for comparing cities and their knowledge intensiveness. 
While many espouse the achievements of specific cities, few offer a systematic analysis of the factors that drive a knowledge city’s success, or develop a methodology for benchmarking them. 
<h2>Geography still matters</h2>
In a digital age, there’s a tendency to consider knowledge exchange as freed from geographical constraints. The argument goes that barriers of linguistic and cultural differences or legal restrictions imposed by countries no longer constrain knowledge. It can be produced or acquired anywhere and, equally, can be shared globally. 
Though some may proclaim geography irrelevant, we do not share this view. Rather, we argue that propinquity is vital to the development and transmission of knowledge.
One of the fundamental features of knowledge cities and precincts is the proximity of individuals in generating and sharing knowledge, ideas and innovations. 
This proximity generates a culture and conviviality of enquiry. It also allows for the chance acquaintances that supplement formal structures of co-operation. 
This capacity to generate incidental enhancement of knowledge delivers on the expectation that cities are the places where knowledge can best be developed and exchanged.
<h2>The changing nature of work</h2>
And then there are the workers themselves. For workers in knowledge-intensive industries it may be the best of times, as their knowledge, skills, and creativity become increasingly valuable and combine to make them more prosperous. 
For other workers, it could be the worst of times, as their hard-won skills and occupational practice become increasingly irrelevant or obsolete. In many sectors, automation, artificial intelligence (AI), big data and machine learning will make more and more jobs redundant, or at least change them fundamentally. 
It isn’t only unskilled or semi-skilled workers who face these threats in the changing landscape of work. Technological change and associated economic and social transformations will continue to affect many skilled and professional occupations.
This has led some to question the very future of many professions. It is predicted that close to half of the current jobs in developed economies could be automated or otherwise made redundant by 2030. 
<h2>The Knowledge City Index</h2>
How will all of this play out in Australia? 
We know which types of jobs are most likely to decline. We also have some sense of what types of jobs, or at least which sectors, are likely to be most resilient. But this dichotomy of decline and resilience is not equally distributed across the geography of Australian cities. 
To create our index, we examined a total of 25 cities and analysed each of them according to its knowledge capital (the underlying knowledge infrastructure) and knowledge economy (the knowledge activation). We combined six different measures, using a data-standardisation process that controls for the size of cities, to compare all 25 significant urban areas. 
The framework underpinning the index can be used for comparative analysis of cities in other countries. It’s also repeatable over time, so we can understand how cities are changing.
<a href="https://www.propertyobserver.com.au/images/2017/07/27/file-20170719-14138-1viid9u.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/2017/07/27/file-20170719-14138-1viid9u.jpg" alt="">
<div class="enlarge_hint"> </div>
How 25 Australian cities rate on the six key measures of the Knowledge City Index.
The Knowledge City Index results are mixed.
Five cities in Australia appear to be well prepared for the technological revolution and knowledge transition that are already taking place. Sydney, Melbourne, Canberra, Brisbane and Perth qualify as knowledge cities. The remaining 20 cities have observable knowledge limitations to various degrees. 
Canberra stands out as one of Australia’s leading knowledge cities, despite its comparatively small population and employment bases. Higher proportions of its population have both knowledge capacity and actually work in the knowledge economy than in any other city. 
Cities that have traditionally relied on the manufacturing and mining industries for their employment base lack sufficient knowledge capital and have significant shortfalls in their knowledge economy. 
<h2>A tale of two cities</h2>
The index also provides city portraits that highlight differences between cities. Compare the two largest cities: Sydney and Melbourne:
Click to enlarge
<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/2017/07/27/file-20170724-11666-d9fqvi.jpg" alt="">
How Sydney and Melbourne compare on the key Knowledge City Index measures.
Despite being nearly identical overall, Sydney and Melbourne do demonstrate nuances in individual indicators that reveal their relative knowledge strengths and weakness. Our analysis produces portraits for all 25 Australian cities. 
For cities such as Sydney, Melbourne, Canberra, Brisbane and Perth, the shift to a knowledge economy promises to be “the best of times”. For the other 20 cities, it could well be “the worst of times” if they are unable to adapt to the knowledge economy. 
Understanding the underlying components of these changes and exploring the social, political and economic implications that stem from them is fundamental. Only then can we know which cities are likely to be most and least susceptible to the uneven technological advancements underway.
<a href="https://theconversation.com/profiles/lawrence-pratchett-208187" target="_blank">Lawrence Pratchett</a> is Dean of Business, Government and Law, University of Canberra.
<a href="https://theconversation.com/profiles/michael-walsh-147733" target="_blank">Michael Walsh</a> is Assistant Professor of Social Science, University of Canberra.
<a href="https://theconversation.com/profiles/richard-hu-7319" target="_blank">Richard Hu</a> is Professor, Faculty of Arts and Design, University of Canberra.
<a href="https://theconversation.com/profiles/sajeda-tuli-390943" target="_blank">Sajeda Tuli</a> is PhD Candidate, Institute for Governance and Policy Analysis, University of Canberra.
All are authors for <a href="https://theconversation.com/au" target="_blank">The Conversation</a>.
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