Attachment H - Economic report · MCU13/0092

 

DFS GROUP

perrearte exCTINEE CCR

In a similar way it is envisaged that the proposed IGA supermarket and
contemporary convenience speciality shops will satisfy a community need
not otherwise generally able to be readily accommodated in the traditional
village centre.

The role of the proposed convenience IGA shopping complex is not
expected to compete with the traditional centre, nor detract from its existing
highly successful social/entertainment role, rather it will provide the potential
to strengthen the traditional centre by reducing leakage (in $'s and resident
numbers), to Coolum Beach, Peregian Springs or elsewhere, and attracting
additional patronage to the Village Square by those locals currently
shopping at Coles and Woolworths etc outside of Peregian Beach

The ‘Needs Assessment’ by Foresight Partners Pty Ltd (February 2013 — refer to
Attachment H) a highly experienced and regarded Brisbane based
economics consultancy concluded (Source: SUMMARY]:

e The proposed closure of the Friendly Grocer supermarket store “will likely
leave only one small food/grocery store {approximately 150m?) in Peregian
Beach which is expected fo be part of the Essence development. A food
store of fhis 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 ";

e "The lack of supermarkets indicates a clear void in the existing retail provision.
However, there are no suifably zoned sites of sufficient size in Peregian Beach
to accommodate a supermarket”;

e The proposed centre will have a convenience shopping and services focus
and will complement the established retail network in the Village Centre “

e "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";

e “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 fo be serviced by a local supermarket.";

e "It is therefore concluded that there is a clear and significant economic and
community need for the proposed neighbourhood cenire>"

It may be the case that part of the reason for the proposed closure of the
Friendly Grocer and its replacement by a Restaurant and small market stalls
is reflective of the fact that the neighbourhood village centre functions as an
entertainment/dining/social centre and not as a true convenience shopping
centre.

 

May 2013 {A MCU IGA Complex at Peregian Page 18