20517 App H.pdf [As Published] · 132007.1259

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8%-12% generally achieved by a local centre. This is due to the lack of
facilities in the Peregian Springs area which will soon be addressed by the
planned centre. This will provide for the majority of chore shopping by
Peregian Springs residents. It is likely that the share captured by the
Peregian Shopping Village will decrease after the planned Peregian Springs
centre opens due to lower market penetration in this growing residential
community.

5.2 Recommendations

The economic need of supermarket, large floorspace/ bulky goods or
convenience retail floorspace of 2,000 Sq M could not currently be justified
given the market size and changes to the retail network (planned Peregian
Springs centre and Coolum bulky goods) and the distance of the site from
the forecast growth.

Retail proposed for the site can not be justified on the basis of need.
Commercial floorspace on site is a potential option. This is not to say that
given the appropriate zoning that retail would not work on the site. Retail
uses have the potential to be viable on the site, however, the existing centre
across David Low Way currently has a heavy commercial focus and this is
expected to decrease over time to be replaced by retail uses.

From a land use perspective the best use for the site is convenience retail
including a convenience store / small supermarket and supporting
specialties. However, the proposed 2,000 Sq M of retail uses would be
extremely difficult to substantiate. Therefore it is recommended that
development on the site target the highest and best use that does not
require a needs assessment.

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06/0043 Opportunity Analysis - Peregian Beach Caravan Park Economics