D - Economic Impact Assessment Addendum by Location IQ (6.08.19)

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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