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

           Summary
           Marquette Properties is proposing to develop a 915m² convenience retail
           centre, ‘The Hive at Noosaville, on the southwest corner of Gibson Road and
           Skipper Place in Noosaville, Sunshine Coast. The proposal will be anchored by
           a convenience store and be complemented by a mix of convenience oriented
           tenants. In light of its role and function, the proposal will operate for extended
           trading hours.

           Retail network

           The site is diagonally opposite the western end of the Noosaville Business
           Centre, which extends east for around 500 metres. The Noosaville Business
           Centre consists of three key components – Noosa Village, Noosa Homemaker
           Centre and showrooms. The traditional supermarket at Noosa Village provides
           for major chore food shopping needs.
           To the north of the site is the Noosaville Visitor Mixed Use Zone along and
           near Gympie Terrace, which contains a diverse mix of restaurants and cafes
           with relatively high price points. It largely caters to the visitor market.
           Overall, there is a clear deficiency in convenience retail facilities in Noosaville
           with a need for local facilities that have extended hours of operation to serve
           the local resident and visitor population, and provide a greater choice of food
           and beverage facilities.

           Market fundamentals

           The forecast primary trade area encompasses residents within an approximate
           one kilometre radius from the subject site. The Noosa River acts as a natural
           barrier to the north and east. To the south, the trade area extends to Shorehaven
           Drive and west to Eumundi Road. The secondary trade area includes the
           residential pocket west of Eumundi Road and south of Shorehaven Drive.
           The population of the forecast trade area at June 2010 is estimated at 4,700
           people in 2,110 dwellings. The trade area population is forecast to increase to
           4,800 people by June 2013 (the assumed first full year of trading for the
           proposed new centre), 4,870 people by 2015 and 4,940 people by June 2017.
           Trade area households currently generate $59.4 million in retail sales potential.
           Between June 2010 and June 2013, the assumed first full year of trading for the
           proposed new centre, population growth will increase this pool of available
           retail spending by $2.6 million. By 2017 (fifth year of trading) a further $4.0
           million will be available.
           There are a total of 40 visitor accommodation establishments collectively
           comprising over 1,000 rooms within the defined trade area that host an
           estimated 442,800 visitor nights annually. The current pool of expenditure
           from domestic, international and day trip visitors within the trade area is $32.6
           million for food and drink and shopping items. This is forecast to increase to
           $33.6 million by 2013 and $35.0 million by 2017.

Noosaville Convenience Centre EIA
10034 Rev 1
19 October 2010                                iii