Location: Midland Redevelopment Area, Western Australia
Client: Metropolitan Redevelopment Authority (MRA)
Status: Completed, December 2013
Brief: MacroPlan was commissioned by the Metropolitan Redevelopment Authority to prepare an Economic Opportunity Study as an input into the Midland Master Plan. The report also forms part of a review of the Midland Metro Concept Plan, 2008.
This project was undertaken to provide an evidence base and subsequent identification of opportunities for the future development of the Midland Redevelopment Area.
Methodology: Assessment of the historical trends, current status and future projections for the economy, demography and property market were conducted.
The baseline context was established and involved analysis of the population, demographics, property and dwellings, the labour force and visitor profiles.
A competition assessment was conducted, which comprised of the buyer demographic, benchmarking based on key economic and demographic statistics, competition from similar development projects, and case studies.
This context enabled MacroPlan to identify the major growth opportunities by industry sector, key property trends and market cycles, impediments to development, and an assessment of the capacity of the hospital to be a catalyst for supply-chain and complementary opportunities.
Result: MacroPlan’s high quality analysis provided a strong evidence base to support the identification of development opportunities for the Midland Redevelopment Area, whilst also highlighting the current and potential limitations to this development. The report serves as a valuable input to the new Midland Master Plan.
Services: Baseline economic and demographic context; competition assessment; economic benchmarks; opportunities and constraints; growth market and sector identification.