Home Tasmania The potential of education precincts

The potential of education precincts

  • April 12, 2023
  • by Property Australia
A Property Council and Hansen Tuncken site tour of University of Tasmania’s Philip Smith Centre and Forestry Building

Australia is renowned globally for its excellence in education and innovation in delivering its resources. The education sector itself contributes approximately $34 billion annually to the country’s economy.

Recently, the Precincts Discussion Paper was released by the Property Council of Australia, highlighting the significant income-generating potential within the sector and proposes improved methods for industry and government collaboration to enhance project value.

Over the last two years, the Property Council’s Precincts Committee has presented several precinct case studies that demonstrate how collaborative efforts within the property sector can supercharge projects and increase their value.

Property Council’s NSW Acting Executive Director Adina Cirson said the property industry should consider what it can do and how it can innovate as an enabler for these opportunities so they can ultimately share in the flow on benefits of precincts.

“The sector is presented with a significant opportunity to leverage capital locked up in asset holdings while concurrently revitalising education precincts and ‘honing in’ on core business operations,” she said.

“Co-investment in developments with the private sector can leverage the economic output of innovation districts and precincts more generally by combining the strengths of academia with commercialisation of industry partners.”

Over in Tasmania, the local Property Council division, in collaboration with Hansen Yuncken hosted site tours with precinct thinking top of mind. 

As part of the ‘education roadshow’, attendees were given a valuable preview of upcoming education facilities, such as TasTAFE’s Water and Energy Trades Centre of Excellence, the University of Tasmania’s Philip Smith Centre, and the Forestry Building. These are active construction projects that will significantly impact the future of tertiary education in Tasmania.

“While each of these projects are very different scale, complexity and purpose – each will significantly raise the bar of quality in teaching environments each project will provide for Tasmanian students, and the next generation of construction professionals for many years to come,” Matt Cadle, State Manager Hansen Yuncken said.

Hansen Yuncken has delivered many knowledge hubs including; Sydney’s Meadowbank TAFE Multi-Trades and Digital Technology Hub, Inner Sydney High School, the University of Queensland’s Andrew N. Liveris Building and North Melbourne Primary School, with the University of New South Wales Health Translation Hub and the Flinders University Health and Medical Research Building currently underway.

Property Council Tasmanian Executive Director Rebecca Ellston said it is crucial to maintain industry engegement across the sector to ensure Tasmania not only remains at the forefront of development, providing world class facilities, research capabilities and outputs but also that these projects are supported by placemaking and additional investment in the state.

“The education precinct tour highlighted the important returns that investing or co-investing in the education sector plays in curating innovative precincts and master planning.”