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Randwick Economic Activity Study Final Report Randwick Economic Activity Study Final Report Randwick City Council July 2008 1746rea (Report - July 2008).doc 43 This proposal has been prepared on behalf of: This report has been prepared by: SGS Economics and Planning Pty. Ltd. ACN 007 437 729 Suite 12/50 Reservoir Street, Surry Hills NSW 2010 phone: 61 2 8307 0121 fax: 61 2 8307 0126 email: [email protected] web: www.sgs-pl.com.au Randwick Economic Activity Study Table of Contents Executive Summary ..................................................................... 5 1 Introduction ........................................................................ 8 1.1 Background ............................................................................................................ 8 1.2 Scope of the Study ................................................................................................ 10 1.3 Report Structure ................................................................................................... 11 2 Economic Context ............................................................... 12 2.1 Globalisation......................................................................................................... 12 2.2 Cities .................................................................................................................. 12 2.3 Competitiveness .................................................................................................... 13 2.4 Spatial Trends in Sydney ........................................................................................ 14 2.5 Implications for Randwick City ................................................................................. 14 3 Current Policy Framework ................................................... 16 3.1 The State Plan, 2006 ............................................................................................. 16 3.2 The Metropolitan Strategy, 2005 .............................................................................. 16 3.3 Draft East Subregional Strategy, 2007 ...................................................................... 18 3.4 Employment Lands for Sydney Action Plan, 2007 ........................................................ 23 3.5 Statement on Innovation, 2006 ............................................................................... 23 3.6 Local Government Policy ......................................................................................... 24 3.7 Implications for Randwick City ................................................................................. 25 4 The Randwick City Economy: Baseline Analysis ..................... 26 4.1 Overview ............................................................................................................. 26 4.2 Randwick City Jobs ................................................................................................ 27 4.3 Employment Specialisations .................................................................................... 30 4.4 Occupation Structure ............................................................................................. 33 4.5 Origin of workers ................................................................................................... 34 4.6 Travelling to Work ................................................................................................. 37 4.7 Implications for Randwick City ................................................................................. 38 5 Key Areas of Economic Activity ............................................ 41 5.1 Health and Education Precinct.................................................................................. 41 5.1.1 University of NSW ..................................................................................... 41 5.1.2 Randwick Hospitals ................................................................................... 45 5.1.3 Randwick Racecourse ................................................................................ 47 5.1.4 Links with Surrounding Retail Centres .......................................................... 48 1746rea (Report - July 2008).doc 43 Randwick Economic Activity Study 5.1.5 Access .................................................................................................... 49 5.1.6 Future Economic Activity ............................................................................ 50 5.2 Town Centres ....................................................................................................... 52 5.2.1 Expenditure Distribution............................................................................. 52 5.2.2 Catchment Areas ...................................................................................... 54 5.2.3 Supply-side detail ..................................................................................... 57 5.2.4 Future Economic Activity ............................................................................ 65 5.3 Industrial Employment Lands .................................................................................. 68 5.3.1 Logistics & Operations ............................................................................... 68 5.3.2 Global Logistics Trends .............................................................................. 73 5.3.4 Supply-side detail ..................................................................................... 75 5.3.5 Future Economic Activity ............................................................................ 86 5.4 Implications for Randwick City ................................................................................. 88 6 Gaps, Opportunities & Recommendations .............................. 90 6.1 Potential High-Level Policy Developments .................................................................. 90 6.2 Health and Education Specialised Centre ................................................................... 92 6.2.1 Overview ................................................................................................. 92 6.2.2 Analysis .................................................................................................. 94 6.2.3 Strategies ............................................................................................... 97 6.2.4 Implementation ....................................................................................... 101 6.3 Town Centres ...................................................................................................... 105 6.3.1 Overview ................................................................................................ 105 6.3.2 Strategies .............................................................................................. 107 6.3.3 Implementation ....................................................................................... 109 6.4 Industrial Area ..................................................................................................... 112 6.4.1 Overview ................................................................................................ 112 6.4.2 Analysis ................................................................................................. 112 6.4.3 Strategies .............................................................................................. 114 6.4.4 Implementation ....................................................................................... 117 Appendices 1 Appendices 1 1 Local Environmental Plans 2 Resident Demographics 3 Supply-side Detail – UNSW & Randwick Hospitals 4 Demand-side Projections 2 Appendix 2: Retail Modelling 3 Appendix 3: Town Centres Audit 4 Appendix 4: Industrial Area Survey 5 Appendix 5: Employment Activity Chartbook 1746rea (Report - July 2008).doc P. 4 Randwick Economic Activity Study Executive Summary Randwick City Economy Randwick City‟s economy is part of a complex and diverse network of activities that extends well beyond the boundaries of Randwick LGA. The City occupies the south eastern portion of the East Sydney subregion and is located between major metropolitan urban elements: Sydney CBD, Kingsford Smith Airport and Port Botany. The City is host to two „specialised centres‟: the Health and Education Specialised Centre in the north, and the Port Botany and Environs Specialised Centre to the south. Anzac Parade is a critical artery for activity in Randwick LGA, linking the key employment lands of the north and south, and providing residents around the LGA with a path for relatively efficient access to Sydney CBD. The area is serviced by bus networks. The health and education specialised centre is a major hub in the north of the City. The precinct encompasses the University of NSW (UNSW), the Randwick Hospitals Complex, Randwick Racecourse and the town centres of Kensington, Kingsford, Randwick Junction and the Spot. The specialised nature of the major institutions in the centre ensures that it is export-oriented, with thousands of people coming from outside Randwick each day to attend the university and receive health care at the hospitals. These visitors contribute further to the local economy, frequenting the town centres and the entertainment districts in the surrounding region. The Draft East Subregional Strategy indicates that employment in the centre is expected to increase by 2,300 jobs, to total 12,100 jobs in 2031. A significant increase in floorspace demand is likely to be associated with this growth in jobs,
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