Planning Report - Revisions incoporating Attachment H - Economic Report · MCU13/0092

7.5.5.3 Economic and Town Planning Comments:

           (a) The following findings are from the Proposed Retail Centre
               Peregian Beach Needs Assessment (February 2013) undertaken
               by Foresight Partners a highly experienced and regarded
               economics consultant, namely:

   •   “However, impacts are unlikely to adversely affect the vitality and
       viability of any existing supermarkets or retail centres, and initial
       impacts will be ameliorated by continuing market growth”;
   •   The proposed closure of the Friendly Grocer supermarket store “will
       likely leave only one small food/grocery store (approximately 150m²)
       in Peregian Beach which is expected to be part of the Essence
       development. A food store of this size offers only a small product
       range generally limited to confectionary, drinks and a small variety of
       convenience food. Without a local supermarket residents of Peregian
       Beach must travel outside th3eir community for basic food and
       grocery needs “;
   •   The establishment of a small neighbourhood centre with a
       supermarket will fill a substantial void in the Peregian Beach area. The
       need for the proposed centre is indicated by the lack of a
       supermarket serving the trade area and the resulting substantial
       expenditure escaping from the local community”;
   •   “The lack of supermarkets indicates a clear void in the existing retail
       provision. However, there are no suitably zoned sites of sufficient size in
       Peregian Beach to accommodate a supermarket”;
   •   The proposed centre will have a convenience shopping and services
       focus and will complement the established retail network in the
       Village Centre “
   •   “Of the centre’s forecast $12.6million in year one turnover more than
       $10.5m (85%) is expected to be recapture of spending currently
       escaping form Peregian Beach”;
   •   “The proposed centre has particular benefits including greater local
       retail choice, enhanced local accessibility to commonly used retail
       facilities, reduction in escape spending, a boost to locally based
       employment and greater job containment. Moreover, a community
       the size of Peregian Beach would reasonably expect to be serviced
       by a local supermarket.”;
   •   “It is therefore concluded that there is a clear and significant
       economic and community need for the proposed neighbourhood
       centre”

    (b)     the proposed convenience shopping complex will provide a
            secondary (to the existing Village Square) focal community point
            for daily/weekly convenience shopping and social meeting venue;

May 2013                    IA MCU IGA Complex at Peregian                 Page 31