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

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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