Murdoch University sought to develop the Eastern Precinct to maximise its long-term potential value. The precinct should serve the strategic positioning of the university in its role as an education and research institution, and consider opportunities for collaboration, commercialisation and improvements to urban amenities.
Pracsys was engaged to undertake an economic assessment, focusing on expansion opportunities for education, attracting new businesses and other knowledge-based agglomeration.
The project was developed through a process of stakeholder consultation, network mapping, gap analysis, benchmarking and business case development. The Pracsys approach was based on utilising Murdoch’s strategic and geographic advantages to maximise the value of both knowledge-based localisation economies and the services-driven urbanisation economy.
Several key project opportunities were identified around the intersection between university faculties and facilities and health functions within the activity centre. Key outputs of the study included the development of an investment and implementation strategy containing a series of high-level business cases for future commercial and funding opportunities. The result was to outline identified value chains for knowledge-based agglomeration of key industries to provide strategic logic to the area.
Pracsys team involved in the project:
Michael Chappell (Project Director)