MCU10/2083 Development Application part 2 - Attachment 4 - Economic Impact and Need Assessment

           Available retail expenditure from trade area households is expected to increase
           by $2.6 million to June 2013, which is the assumed first full year of trading of
           the proposed Noosaville convenience retail centre. Over the four year period to
           2017, the pool of resident generated retail expenditure is expected to increase
           by a further $4.0 million. In total, retail expenditure by trade area households is
           forecast to increase by $6.6 million over the forecast period, with primary
           households contributing $3.5 million to the forecast increase.
           No allowance has been made for inflation in forecasting future retail
           expenditure, as inflation does not create demand for retail floor space.
           However, a 0.5% per annum increase in real spending potential has been
           factored into post-2010 expenditure estimates.

3.5        VISITOR MARKET

           Visitors represent a secondary market for the proposed Noosaville convenience
           retail centre.

3.5.1      Visitor accommodation

           Whilst a small proportion of visitors stay in private dwellings most stay in
           commercial accommodation.        The predominant forms of commercial
           accommodation available in the Noosa-Noosaville area are hotels, motels,
           guest houses and serviced apartments, holiday flats and units. (Refer to
           Appendix A for a summary of commercial accommodation available in Noosa-
           Noosaville area).
           Figure 3.4 shows the locations of hotels, motels, guest houses and serviced
           apartments surrounding the subject site. Within the defined trade area, there are
           40 accommodation establishments collectively comprising over 1,000 rooms.
           Of this, ten establishments with approximately 300 rooms are within a 500
           metre radius – a walkable distance from the subject site.
           Based on the 1,016 rooms identified within the trade area, this yields a total of
           370,840 annual room nights available. At the average Noosa-Noosaville
           occupancy rate (59.7%), total annual room nights occupied amounts to
           approximately 221,400. After taking into consideration average length of stay
           (3.6 days) and persons per room (2.0), it is estimated that the defined catchment
           attracts 123,000 overnight visitors a year. This translates into 442,800 visitor
           nights a year.




Noosaville Convenience Centre EIA
10034 Rev 1
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