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D - Economic Impact Assessment Addendum by Location IQ (6.08.19)
Memorandum
To: Ben Jones, Blueprint Planning
From: Philippa Curtis, Location IQ
Date: 6 August 2019
Subject: Noosa Marketplace - Economic Impact Assessment Addendum
This memorandum addresses the Information Request by Noosa Shire Council, requesting further information
in relation to the Economic Impact Assessment for Noosa Marketplace. Specifically, the methodology used to
assess the supply and demand for floorspace within the region and the impact assessment (refer pages 2 and
3 of the Council Requestion for Information document) of the proposed development.
This addendum provides additional commentary and analysis as requested by Noosa Shire Council, based on
well established, credible information sources and methodologies.
Key topics covered in this addendum address the following points from the Information Request as follows:
5&6. Floorspace Supply and Demand: A detailed supply and demand for large format retail and non-retail
showroom floorspace, including an assessment of demand retained within the total trade area (by
sector) as well as the demand generated by visitors to the region from beyond the main trade area;
7. Impact Assessment: a detailed assessment of competitor impacts resulting from the development
by precinct;
8. Needs Analysis for Food Catering Operator: an assessment of the potential for a standalone food
catering facility at the site.
Floorspace Supply and Demand
Methodology Overview
i. Industry Benchmarks: In Australia, there is around 2.3 sq.m of retail floorspace provided for every
resident. Of this 2.3 sq.m, approximately 30% is estimated to be in large format retail floorspace, or 0.6
– 0.7 sq.m of large format retail floorspace per person. In addition, non-retail showroom facilities such
as trade and wholesale showrooms or non-retail display suites (e.g. bathroom showrooms, tile centres,
window/door specialists, paint shops etc.) are estimated to make up around 0.3 sq.m of floorspace per
person. This does not include vehicle showrooms (cars, boats, trucks etc.). Overall, the provision of
large format retail and non-retail showroom floorspace is approximately 0.9 – 1.1 sq.m per person.
Office Address Mailing Address Telephone: 02 8248 0100
Level 6, 56 Pitt Street PO Box 1121 Website: locationiq.com.au
Sydney NSW 2000 Bondi Junction NSW 1366 ABN: 30 658 856 304
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ii. Define Trade Area: Typically, in assessing the demand for facilities, a trade area which would be served
by the proposed development is defined based on a range of factors as outlined on page 19 of the
Economic Impact Assessment (EIA) report. The defined total trade area for Noosa Marketplace is
illustrated on Map 1.
iii. Trade Area Population: The demand for floorspace is then assessed based on industry benchmarks
which are applied to the population within the trade area over the period to 2031. This information is
sourced from the following:
The 2011 and 2016 Census of Population and Housing undertaken by the Australian Bureau of
Statistics (ABS);
New dwelling approvals statistics from the ABS from 2011/12 to 2017/18.
Population projections prepared by the Queensland Government Statistician’s Office (QGSO)
in 2018;
Investigations by this office into new residential developments in the area.
The floorspace provision benchmark (refer point (i)) is applied to the total trade area population to
ascertain total floorspace demand generated by residents.
iv. Retention Rates: Demand for floorspace will escape to facilities beyond the total trade area. As such,
a retention rate of floorspace demand is applied, which considers the proximity of competing facilities,
the brands provided within and beyond the total trade area etc.
v. Demand from Beyond Trade Area: Additional demand for floorspace will also be generated by
residents beyond the total trade area; particularly in the tourist areas such as Noosa.
vi. Supply: based on an estimate of existing and proposed floorspace within the total trade area over the
forecast period.
vii. Assessment of Supply vs Demand: total trade area demand is the compared with the supply of
floorspace in order to ascertain the over/undersupply of floorspace over the forecast period.
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Noosa Marketplace Floorspace Supply and Demand
i. Table 1 and Chart 1 detail the estimated current large format retail and non-retail showroom floorspace
demanded by total trade area residents and the likely growth in this demand over the period to 2031.
Key points to note are as follows:
‒ Floorspace Provision Benchmark: as outlined above, the average provision of large format
retail floorspace and non-retail showroom facilities in combination is typically 0.9 – 1.1 sq.m per
person. For the purposes of this analysis, a benchmark provision of 1.0 sq.m per person is
assumed.
‒ Total Floorspace Demand: Currently 137,740 persons reside in the Noosa total trade area.
Based on the benchmark of 1.0 sq.m per resident, the current total trade area population would
demand of approximately 137,740 sq.m of large format retail floorspace.
‒ Retention Rate: some of this demand for floorspace will flow into and out of the total trade area,
in particular to facilities to the south; at Maroochydore and Kawana. As such, appropriate
retention rates have been applied to the demand for floorspace within the total trade area by
sector as follows:
Primary Sector: a retention rate of 80% reflects the central location of the site and existing
facilities in Noosaville, with the majority of residents residing within 10 km. Competitive
facilities at Maroochydore and Kawana are more than 40km to the south of the primary
sector.
Secondary Sector: a lower retention rate of 50% is assumed, given that residents in this
sector are closer to facilities at Maroochydore and Kawana;
Tertiary Sectors: a retention rate of 90% reflects the provision of facilities in and around
Gympie as well as the distance to competing facilities at Maroochydore, over 80 km to the
south;
Total Trade Area: overall, the retention rate for floorspace demand within the total trade
area is estimated at 77.4%;
It is noted that the retention rates within the total trade area will never reach 100%, given that it
is unlikely that all large format retail brands will operate stores within the region.
‒ Beyond Total Trade Area: additional demand for floorspace will be generated by visitors to the
total trade area. Demand from beyond the total trade area is estimated at 10% of total trade
area floorspace demand. This distribution is consistent with that of comparable centres in
suburban areas. The 90 : 10 ratio of demand coming from within and beyond the total trade
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area is considered a general rule of thumb within the retail industry. In areas with high levels
of tourist visitation (such as Noosa), demand from beyond the total trade area can be higher,
but for the purposes of this analysis, a conservative approach has been taken.
Overall, taking into account floorspace demand flowing into and out of the total trade area, total
floorspace demand is estimated at over 117,000 sq.m currently, increasing to over 132,000
sq.m by 2031.
‒ Supply: current floorspace supply is estimated at just over 94,000 sq.m. This information is
based on a detailed survey undertaken by Location IQ in April 2019. This equates to a provision
of around 0.68 sq.m per person, which is lower than typical benchmarks despite a broad
interpretation of the large format retail and showroom category in this case. There are no known
developments which will increase the supply of floorspace within the total trade area, besides
the subject proposal. Vacancy levels are low, primarily comprising newly developed space
which is not yet leased. As such, the supply of floorspace is assumed to remain constant over
the period to 2031.
‒ Over/Under Supply: the total trade area is currently undersupplied by just over 23,000 sq.m,
increasing to almost 38,000 sq.m by 2031, assuming no other competitive development come
online during this period.
‒ Noosa Marketplace is proposed to include 8,780 sq.m of large format retail/non-retail
showroom floorspace. This would account for only 32.1% of the projected undersupply of
floorspace within the total trade area in 2022, reducing to 23.1% by 2031 (refer Chart 2).
‒ Gap Analysis: Tables 2 and 3 provide a gap analysis of national brand large format retailers in
the region. The store provision (i.e. number of persons per store) in South-East Queensland for
each brand is also detailed. As shown, a number of brands are not currently represented within
the total trade area. Many of these have a store provision which is generally in the range of the
Noosa Marketplace total trade area population. This indicates that there is a significant pool of
potential national brand operators which could be targeted to form part of the development,
including:
JB Hi Fi Carpet Court
The Good Guys The Vast Interior
Spotlight RT Edwards
Snooze Robins Kitchen
Amart Furniture Kathmandhu
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Memorandum
This indicates that there is demand for floorspace based on tenants which are not currently
represented but are clearly sustainable within the total trade area.
Impact Assessment
i. It is important to note that impacts outlined in this report are indicative as it is difficult to precisely project
the sales impact of the opening of a new store/centre on existing retail facilities. A number of factors
can influence the impact on individual centres/retailers, including but not limited to:
Refurbishment/improvements to existing centres;
Expansions to existing centres;
Loyalty programs of existing retailers;
The existing centre mix and how it competes with the proposed development.
For all these reasons and other similar factors, sales impacts outlined in this report should be used as
a broad indication. Notwithstanding, the methodology used in this analysis is well established and is
generally consistent with that utilised across the retail industry in assessing competitive impacts on
competing centres/precincts.
ii. Table 4 provides indicates projected sales for the proposed Noosa Marketplace as detailed in sub-
section 4.2 of the EIA report. As shown, the proposed development is projected to achieve sales of
around $3,500 per sq.m in 2022 (constant 2019 dollars and including GST), or around $30.7 million.
iii. Projected market shares for Noosa Marketplace are also shown in Table 4. This analysis assumes a
worst-case scenario where 100% of Noosa Marketplace sales come from the large format retail market.
In reality, the composition of the centre will likely include a provision of non-retail showroom/light
industrial uses. Projected large format retail market shares for Noosa Marketplace are 6.4% across the
total trade area, 7.5% across the main trade area and 8.4% from the primary sector.
iv. Table 5 outlines an indicative assessment of the impact of the proposed development on competitors
in the region. The steps involved in assessing the sales and impacts on competitive centres are
presented as follows:
Step 1: Estimate sales levels for existing centres in the 2019. These estimated are based on
industry benchmarks and an assessment of the performance of the various precincts as part of the
floorspace survey undertaken in April 2019;
Office Address Mailing Address Telephone: 02 8248 0100
Level 6, 56 Pitt Street PO Box 1121 Website: locationiq.com.au
Sydney NSW 2000 Bondi Junction NSW 1366 ABN: 30 658 856 304
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Step 2: Project sales for existing and proposed centres in the 2021/22, the first full year of trading
for the proposed Noosa Marketplace. These projections allow for retail market growth and new
retailers/centres. All sales projections in 2021/22 are presented in constant 2019 dollars (i.e.
excluding inflation);
Step 3: Outline the change in sales at each precinct in 2022 as a result of the development of the
proposed Noosa Marketplace. Again, all sales are expressed in constant 2019 dollars;
Step 4: Shows the impact on competitor sales in 2021/22, both in dollar terms and percentage of
estimated sales.
v. In economic impact assessments, an impact of 10% or less is considered to be within the normal
competitive range. Impacts of 10% - 15% are high and impacts above 15% are considered to be very
high. Key impacts are summarised as follows:
Noosaville: In total, the Noosaville area is projected to be impacted by $14.6 million (or 9.0%).
The largest impact in dollar terms is estimated to be on the Noosaville Industrial Precinct (given its
scale), projected at $10.2 million. This is equivalent to a sales impact of 9.0% which is within the
normal competitive bounds of 10% impact on retail facilities. No one particular facility would be
impacted more significantly than another within the Noosaville Industrial precinct, with impacts
spread across a range of large format retail and non-retail showroom operators.
Noosa Business Precinct and the Mary Street/Gibson Road Precinct in Noosaville are both
anticipated to be impacted by around 9.0%, although the exact distribution of impacts will depend
on the final composition of the proposed Noosa Marketplace development;
Other Total Trade Area: facilities in the Gympie region are estimated to be impacted by $4.5
million (or 3.5%). Yandina, Coolum Beach and Peregian Springs/Beach are all estimated to be
impacted by less than $1.5 million (or less than 5% or less).
Beyond Total Trade Area: given that the proposed development would likely comprise new
traders to the region and would not provide a direct replication of any existing tenant or facility
within the immediate region, the amount of escape expenditure (primarily to the Maroochydore and
Kawana/Birtinya regions) would likely be reduced. On this basis, approximately 25% of total sales
($8.0 million) projected to be generated by the new Noosa Marketplace development are estimated
to be as a result of retention of spending redirected to facilities from beyond the total trade area.
Projected impacts on the Maroochydore and Kawana/Birtinya regions are 1.2% and 0.7%,
respectively.
vi. It is important to note that each of these impacts will be one-off impacts resulting from the opening of
the proposed Noosa Marketplace. No one precinct is projected to be impacted by more than $10.2
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million, or 9.0%; which is within the normal competitive range of economic impact assessments. Further,
total trade area large format retail spending is projected to grow from $396.0 million currently to $510.3
million by 2031 (refer Table 2.6 in the EIA report). This growth in large format retail spending within the
total trade area will ameliorate any impacts on existing retailers.
vii. Each of the precincts detailed in Table 5 are likely to benefit in the future from population growth within
the region. As detailed above, there is a low provision of large format retail and non-retail showroom
floorspace throughout the total trade area currently, which will increase over time. The proposed Noosa
Marketplace development would assist in addressing this undersupply.
viii. Overall, the proposed Noosa Marketplace development will not impact on the viability or continued
operation of any retail facility. The viability of individual businesses in not a matter of consideration in
the planning scheme. The proposed development will provide an easily accessible, differentiated offer
to existing facilities to service the residents of the growing total trade area.
ix. The proposed development would also serve to strengthen Noosa as a retail and showroom destination
and would not impact on the role served by major facilities such as Noosa Civic or Sunshine Plaza at
Maroochydore, which contain a large non-food component including apparel and discount department
store shopping.
x. Therefore, whilst maintaining centre hierarchies is of interest, it is clear that the development of Noosa
Marketplace within the Noosa Business Centre does not threaten this. In fact, the attributes of the site
are not easily replicated.
Needs Analysis for Food Catering Facilities
Supply and Demand
i. Competitive facilities of most relevance to the proposed standalone food catering facility at Noosa
Marketplace are provided within the immediate region (i.e. the primary sector).
ii. Food catering facilities situated within the Noosa region are provided in a number of locations
including:
Within designated shopping centres;
Within retail strips and precincts along major roads (including Hastings Parade in Noosa Heads
and the retail strip at Noosa Junction);
Freestanding sites.
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iii. A restaurant operator such as an established national brand or boutique local operator (similar to
Belmondo’s, Clandestino Roasters or Noosa Heads Brewery in Rene Street, Noosaville) would be
targeted to locate at Noosa Marketplace.
iv. Table 6 provides a gap analysis of national brand café/restaurants within the region. Tenants not
currently represented in the region include Guzman Y Gomez, Hog’s Breath Café, Mad Mex, Salsa’s,
Schnitz and The Groove Train.
v. Five food catering tenants are provided at Noosa Civic, including two national brand café/restaurants
(The Coffee Club and Jamaica Blue). These tenants are constrained by the shopping centre’s trading
hours given their internalised food court location.
vi. Hastings Parade precinct provides a number of sit-down cafes and restaurants which primarily cater
to the tourist/visitor market and as such, operate at a different level in the retail hierarchy to the
proposed standalone facility at Noosa Marketplace.
vii. Demand for food catering facilities can be assessed based on visitation to the Noosa Marketplace
development. Projected sales for the development are $30.7 million. Assuming an average spend of
$50 per visitor would indicate visitation of 614,000 per annum in 2022. If 50% of visitors spend an
average of $5 per visit on food catering, this would result in food catering sales of $1.5 million.
Assuming an average trading level of $5,500 per sq.m would indicate that around 250 – 300 sq.m of
food catering floorspace would be supported, based on visitation to large format retail/non-retail
showroom component only. Additional demand would be generated by other customer segments such
as workers in the immediate area, tourists/visitors etc.
Needs Analysis
Population and Demand
i. The proposed Noosa Marketplace primary sector population is currently estimated at just over 71,000
and is projected to increase to 80,540 persons by 2031.
ii. As outlined above, a number of national brand café/restaurants are not currently represented in the
total trade area. As such, the food catering component of the proposed development could provide
increased choice and competition within the region.
Location
i. The Noosa Marketplace site is located along the southern side of Eenie Creek Road (accessed via
Hoffman Drive), a major arterial route through the area. Given the high-profile nature of the site, a
standalone food catering facility would provide a significant level of convenience, access and choice.
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ii. A food catering operator at the Noosa Marketplace site would likely cater to a number of customer
segments, including local residents, workers, tourists/visitors and passing traffic. As such, the
proposed facility would likely generate activity throughout the day/night and week/weekend.
Employment
i. The gross lettable area (GLA) of the proposed food catering tenant, at 270 sq.m would account for
2.1% of the total development. While only a small component of the development in terms of GLA, the
employment density of food catering uses, estimated at 60 employees per 1,000 sq.m (based on
typical industry benchmarks) is higher than other types of uses proposed at the development.
ii. On this basis, the proposed food catering component is projected to generate 16 full-time equivalent
jobs directly. This represents an additional $0.6 million in salary and wages for the local economy
(based on an average annual wage of around $38,532, as sourced from the ABS), directly as a result
of the proposed development.
iii. Further jobs would be created from the supplier induced multiplier effects as a result of jobs for the
on-going running of the facilities at the proposed Noosa Marketplace development site as well as from
the construction of the development (refer sub-section 4.3 of the EIA report).
Consumer Trends
i. Retail facilities in Australia, such as the proposed development, play fundamental roles in the
economies of metropolitan areas, having developed around the need to meet consumer demand. The
nature of consumer demand continues to develop and evolve, reflecting social changes within society,
such as:
Increasing time pressures on working families.
Population and income growth.
The evolution of new retail formats and traders.
Competitive retail developments and precincts.
ii. Food catering facilities form a typical component at these types of centre for convenience purposes,
as evidenced at:
The Coffee Club at Homeworld Helensvale;
The Coffee Club at Morayfield Super Centre;
Jamaica Blue at Harbourtown Gold Coast and Gloria Jeans at Harbourtown Adelaide.
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iii. The design of the proposed development, including an easily accessible provision of car parking and
high-profile location, would be highly convenient for local families who would visit Noosa Business
Centre on a regular basis.
Conclusion
i. In summary, the above analysis supplements the information provided in the EIA report which clearly
highlights a need for the proposed Noosa Marketplace development, based on the undersupply of
large format retail and non-retail showroom floorspace within the defined total trade area.
ii. No one centre or precinct will be materially impacted by the proposed development, with all projected
impacts being less than 10% i.e. within the normal competitive range. Further, growth in population
and large format retail spending within the total trade area will ameliorate any impacts on existing
retailers.
iii. There is also need for a food catering tenant at the site, based on demand generated by patrons to
Noosa Marketplace, leaving aside demand generated by the immediate worker population and other
visitors to broader Noosa Business Centre precinct. There are a number of national brand
café/restaurant operators which are not currently represented which would add choice and competition
within the total trade area.
iv. The above analysis is based on well established, credible information sources and methodologies.
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MAPS & TABLES
MAP 1. NOOSA MARKETPLACE TOTAL TRADE AREA
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MAPS & TABLES
MAP 1. NOOSA MARKETPLACE TOTAL TRADE AREA
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TABLE 1. LARGE FORMAT RETAIL & NON-RETAIL SHOWROOM FLOORSPACE
SUPPLY & DEMAND
DEMAND Current Projected
(a) Population 2019 2021 2026 2031
Primary Sector 71,990 73,790 77,540 80,540
Secondary Sector 25,920 26,720 28,220 28,970
Tertiary Sector 41,530 42,330 44,080 45,830
Total Trade Area (TTA) 139,440 142,840 149,840 155,340
(b) Floorspace Provision Benchmark per Capita
Floorspace per Capita assumed in TTA 1.0 1.0 1.0 1.0
(c) Floorspace Demand generated by TTA Residents = (a) x (b) 2019 2021 2026 2031
Primary Sector 71,990 73,790 77,540 80,540
Secondary Sector 25,920 26,720 28,220 28,970
Tertiary Sector 41,530 42,330 44,080 45,830
Total Trade Area (TTA) 139,440 142,840 149,840 155,340
(d) Retention Rate 2019 2021 2026 2031
Primary Sector 80% 80% 80% 80%
Secondary Sector 50% 50% 50% 50%
Tertiary Sector 90% 90% 90% 90%
Total Trade Area (TTA) 77.4% 77.4% 77.3% 77.4%
(e) Total Trade Area Floorspace Demand Retained = (c) x (d) 2019 2021 2026 2031
Primary Sector 57,592 59,032 62,032 64,432
Secondary Sector 12,960 13,360 14,110 14,485
Tertiary Sector 37,377 38,097 39,672 41,247
Total Trade Area 107,929 110,489 115,814 120,164
(f) Sales from Beyond Total Trade Area = (e - TTA) x 10% 2019 2021 2026 2031
@ 10% of Total Trade Area Demand 10.0% 10,793 11,049 11,581 12,016
(g) Total Trade Area Floorspace Demand = (e) + (f) 2019 2021 2026 2031
Total Floorspace Demand within TTA 118,722 121,538 127,395 132,180
SUPPLY Current Projected
(h) Estimated LFR and Showroom Floorspace (Sq.m)* 2019 2021 2026 2031
Total Trade Area 94,221 94,221 94,221 94,221
(i) FLOORSPACE OVER/UNDER SUPPLY = (h) - (g) 2019 2021 2026 2031
Total Trade Area -24,501 -27,317 -33,174 -37,959
Noosa Marketplace 2019 2021 2026 2031
(j) Noosa Marketplace LFR and Non-Retail Showroom Floorspace 0 8,780 8,780 8,780
(k) as a % of projected TTA floorspace undersupply = (j) / (i) n.a. 32.1% 26.5% 23.1%
*Excludes Boat, Campervan, Car, Motorbike and Truck showroom floorspace
Source: Location IQ
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CHART 1. TOTAL TRADE AREA (TTA) PROJECTED FLOORAPCE SUPPLY & DEMAND,
2019-31
250,000
Demand Escaping TTA
Demand from Beyond TTA @ 10%
TTA Demand Retained within TTA
200,000 Supply
150,000
- 33,174 -37,959
-24,501 - 27,317
100,000
94,221
50,000
0
2019 2022 2026 2031
Source: Location IQ
CHART 2. TTA PROJECTED FLOORAPCE SUPPLY & DEMAND (INCLUDING NOOSA
MARKETPLACE), 2019-31
175,000
Noosa Marketplace LFR/Non-Retail Showroom Floorspace
Total Trade Area Floorspace Demand
150,000
Supply
125,000
- 27,317 - 33,174 -37,959
-24,501
100,000
94,221
75,000
50,000
25,000
0
2019 2022 2026 2031
Source: Location IQ
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TABLE 2. GAP ANALYSIS (AUTO, ELECTRICAL, HOMEWARES, SPORTING GOODS &
MISCELLANEOUS)
Average South-East QLD
Tenant GLA No. of Persons Primary Sec. Tertiary Maroochy Kawana
(sq.m) Stores Per Store Sector Sector Sector dore region QLD
Auto
Auto One 565 3 1,202,300 •
Auto Pro 515 3 1,202,300 • • •
Autobarn 849 23 156,800 • • • •
Repco 587 39 92,500 • • • •
Super Cheap Auto 834 53 68,100 • • • •
Electrical, Sound & Computers
Betta Home Living 621 12 300,600 • •
Godfreys 371 28 128,800 • • • •
Jaycar Electronics 432 16 225,400 •
JB Hi-Fi 1,249 31 116,400 •
Leading Appliances 403 2 1,803,500 •
RT Edwards 801 16 225,400 •
The Good Guys 2,458 17 212,200 • •
Homewares
Adairs 337 21 171,800 • •
Bed Bath N Table 244 20 180,300 • •
Curtain Wonderland 570 13 277,500 •
Howards Storage World 449 6 601,200 •
Lincraft 1,233 9 400,800 • •
Pillow Talk 1,116 25 144,300 • • • •
Provincial Home Living 890 3 1,202,300 •
Robins Kitchen 123 19 189,800 • •
Spotlight 2,631 15 240,500 • •
Vast Interior 744 4 901,700 • •
Sporting Goods
Anaconda 1,972 11 327,900 • •
BCF 1,277 23 156,800 • • •
Kathmandu 417.62 15 240,500 • •
Miscellaneous
Clark Rubber 757 7 515,300 •
Officeworks 1,825 23 156,800 • • •
Petbarn 875 44 82,000 • • • •
Source: Location IQ Database
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TABLE 3. GAP ANALYSIS (FURNITURE & HARDWARE)
Average South-East QLD
Tenant GLA No. of Persons Primary Sec. Tertiary Maroochy Kawana
(sq.m) Stores Per Store Sector Sector Sector dore region QLD
Furniture & Hardware
Amart Furniture 4,077 18 200,400 • •
Barbeques Galore 816 12 300,600 • • •
Beacon Lighting 743 19 189,800 • • • •
Bedshed 1,079 7 515,300 • •
Bunnings Trade Centre 3,898 5 721,400 • •
Bunnings Warehouse 10,189 41 88,000 • • • •
Carpet Call 874 18 200,400 • • • •
Carpet Court 573 16 225,400 • • •
Carpet One 553 9 400,800 •
Choices Flooring 626 14 257,600 • • •
Decorug 522 10 360,700 •
Domayne 5,557 3 1,202,300 •
Early Settler Furniture 1,341 11 327,900 • •
Fantastic Furniture 2,526 10 360,700 •
Forty Winks 1,094 12 300,600 • • • •
Freedom Furniture 2,188 9 400,800 •
Harvey Norman 4,367 20 180,300 • • •
Home Timber & Hardware 1,535 17 212,200 • • • •
Ikea 28,340 2 1,803,500 •
King Living 761 2 1,803,500 •
Mitre 10 1,557 33 109,300 • • • •
Nick Scali Furniture 2,194 11 327,900 •
Oz Design Furniture 981 8 450,900 •
Plush 1,121 7 515,300 •
Samsara 433 0 n.a. •
Sleepys 421 10 360,700 • •
Snooze 1,212 14 257,600 • •
Solomons Flooring 352 9 400,800 • • • •
The Outdoor Furniture Specialist 645 0 n.a. •
The Sleeping Giant 1,056 8 450,900 •
Thrifty Link 503 2 1,803,500 • •
True Value Hardware 587 4 901,700 • • •
Source: Location IQ Database
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TABLE 4. NOOSA MARKETPLACE PROJECTED SALES AND MARKET SHARES, 2021/22
LFR Spend Centre Centre Fcast
Trade Area 2022 Fcast Sales Market
Sector ($M) ($M) Share
Primary Sector 237.1 20.0 8.4%
Secondary Sector 81.4 3.8 4.7%
Main Trade Area 318.6 23.8 7.5%
Tertiary Sector 114.0 3.8 3.4%
Total Trade Area 432.5 27.7 6.4%
Sales From Beyond Trade Area 3.1
Total Centre 30.7
* Including GST
TABLE 5. NOOSA MARKETPLACE PROJECTED SALES IMPACTS, 2021/22
Estimated Projected 2022 Impact 2022
Precinct/Centre Unit 2019 Pre Dev. Post Dev. $M %
Noosa Marketplace $M n.a. n.a. 30.7 n.a. n.a.
Within Total Trade Area
Noosaville 152.1 162.7 148.0 -14.6 -9.0%
• Noosa Business Centre Precinct $M 21.7 23.2 21.1 -2.1 -9.0%
• Noosaville Industrial Precinct $M 105.9 113.3 103.1 -10.2 -9.0%
• Mary Street/Gibson Road Precinct $M 24.4 26.2 23.8 -2.4 -9.0%
Gympie $M 121.1 129.5 125.0 -4.5 -3.5%
Yandina $M 24.2 25.8 24.5 -1.3 -5.0%
Coolum Beach $M 7.4 7.9 7.5 -0.4 -5.0%
Peregian Peach/Springs $M 4.3 4.6 4.5 -0.1 -2.5%
Beyond Total Trade Area
Maroochydore region $M 491.0 525.3 519.0 -6.3 -1.2%
Kawana/Birtinya region $M 231.9 248.1 246.3 -1.7 -0.7%
Source : Location IQ
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TABLE 6. NATIONAL BRAND CAFÉ/RESTAURANT GAP ANALYSIS
Ave. GLA Primary Secondary Tertiary
Food Catering Tenant (sq.m) Sector Sector Sector
Gloria Jean's Coffee n.a. • •
Grill'd n.a. •
Guzman Y Gomez n.a.
Hog's Breath Café n.a.
Jamaica Blue n.a. ••
Mad Mex n.a.
Salsa's Fresh Mex Grill n.a.
Schnitz n.a.
The Coffee Club n.a. •
The Groove Train n.a.
Source: Location IQ Database
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