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

           Centre performance

           Forecast market shares achievable by the proposed centre (4.8% of total trade
           area retail expenditure) produce a centre turnover of $4.5 million, of which
           $1.6 million would originate from external sources (e.g. visitors to the area) at
           June 2013. The centre’s projected overall productivity (sales per square metre)
           is $5,647m² at its first full year of trading.

           Impacts

           The Noosaville convenience retail centre is forecast to capture less than 5% of
           all spending from trade area residents and visitors. The forecast maximum
           impact is less than 2% on the Noosaville Business Centre. As such, forecast
           impacts upon competitive centres will not jeopardize their vitality or viability,
           or threaten their functional roles and levels of service they currently provide to
           the community. The increase in available spending should enable affected
           centres to recoup most of their impacts within a year or two.

           Need

           Need for the subject proposal is demonstrated by the following:
                 •    The local area has a substantial number of residents and visitors.
                 •    The local area is undersupplied with convenience retail facilities.
                 •    There are no alternative locations for such facilities available in
                      Noosaville and greater Noosa.
           The proposed centre should also generate beneficial impacts, such as:
                 •    providing trade area residents with greater choice and variety of shops
                      and food services with extended operating hours;
                 •    introducing more affordably priced food and beverage services;
                 •    enhancing competition in pricing and service;
                 •    providing ease of accessibility with ample parking in light of high
                      vehicle mobility of local residents;
                 •    providing facilities within walking distance of many trade area residents
                      and visitors, thereby generating savings in travel time and costs; and
                 •    providing additional local employment, generating the full-time
                      equivalent of approximately 40 to 50 employees.




Noosaville Convenience Centre EIA
10034 Rev 1
19 October 2010                                   iv