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

1          Introduction
           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 3,860m² site is zoned
           ‘Residential’ under the Noosa Plan (Lot 1 RP802167). Previously the subject
           site has been used as a nursery. An existing commercial use would be replaced
           with the proposed convenience retail centre.
           The proposal is intended to serve as a convenient and easily accessible
           shopping destination. The proposed mix of tenants will be convenience
           oriented and thereby complement the existing range of uses in the surrounding
           area. It proposes to contain eight tenancies ranging in size from about 70m² to
           170m², anchored by a convenience store. Approximately 100m² of additional
           area will be provided for alfresco dining. Ingress and egress will be on Gibson
           Road and Skipper Place. Parking for 67 cars will be provided. In light of its
           role and function, the proposal will operate for extended trading hours (Figure
           1.1).

1.1        PURPOSE AND METHODOLOLGY

           Foresight Partners Pty Ltd was commissioned by Marquette Properties to assess
           the market feasibility, community need and economic impact implications of
           the proposed new centre. The three key objectives of this economic impact
           assessment are to:
                 •    determine if the proposed convenience centre has reasonable market
                      prospects;
                 •    evaluate the economic impacts of the proposed centre development
                      upon the existing and likely future retail network serving the
                      surrounding area; and
                 •    assess whether there is a community need and planning need and
                      demand for the proposed convenience centre.
           Investigations were carried out in four main areas—the competitive
           environment, market fundamentals, centre performance and network impacts.
           Market fundamentals included:
                 •    A determination of the centre’s likely trade area based upon the location
                      and function of competitive centres, the road network and other factors.
                 •    A review of population growth and household formation trends within
                      this trade area. Forecasts of future population and households were
                      produced based on population forecasts prepared by the Population
                      Information and Forecasting Unit within the Office of Economic and
                      Statistical Research. Forecasts were prepared for the proposed centre’s
                      first, third and fifth years of trading. The extended centre’s first full
                      financial year of trading is assumed as the year ending June 2013.

Noosaville Convenience Centre EIA
10034 Rev 1
19 October 2010                                   1