05. Town Planning Report · MCU10/2127

Rana
Viridian Noosa Pty Lid
Research Paper

Advisory
November 2010

Scope and Purpose of Research Paper

KPMG has been engaged by Viridian Noosa Pty Ltd (VN) to undertake a market research
exercise to consider the likely impact upon the Noosa holiday market of altering certain
conditions in the Viridian Resort’s existing development approval. Specifically, KPMG has
sought to answer the question, “Jf the specified 38 units within the Viridian Resort were allowed
to be permanently occupied, how many units would be likely to be permanently occupied by
residents?” KPMG has prepared this research paper to highlight the results of the research
undertaken as part of the analysis. The research has focused on anecdotal evidence found
primarily through consultations held with the managers of strata-titled facilities within Noosa
and appropriate high-end strata-titled resorts in comparable locations. In undertaking this
research, KPMG has relied upon data provided by individual operators and none of the data that
has been provided by these sources has been independently verified.

1.1 Inherent Limitations

This report has been prepared as outlined in the Scope Section. The services provided in
connection with this engagement comprise an advisory engagement, which is not subject to
assurance or other standards issued by the Australian Auditing and Assurance Standards Board
and, consequently no opinions or conclusions intended to convey assurance have been
expressed.

No warranty of completeness, accuracy or reliability is given in relation to the statements and
representations made by, and the information and documentation provided by, VN management,
personnel and stakeholders consulted as part of the process.

KPMG have indicated within this report the sources of the information provided. We have not
sought to independently verify those sources unless otherwise noted within the report.

KPMG is under no obligation in any circumstance to update this report, in either oral or written
form, for events occurring after the report has been issued in final form.

The findings in this report have been formed on the above basis.

1.2 Third Party Reliance

This report is solely for the purpose set out in the Scope Section and for VN’s information, and
is not to be used for any other purpose or distributed to any other party without KPMG’s prior
written consent.

This report has been prepared at the request of VN, in accordance with the terms of KPMG’s
engagement letter. Other than our responsibility to VN. neither KPMG nor any member or
employee of KPMG undertakes responsibility arising in any way from reliance placed by a third
party on this report. Any reliance placed is that party’s sole responsibility.

We understand that this report may be provided to the Sunshine Coast Regional Council. The
Sunshine Coast Regional Council is not a party to our engagement letter with VN and,
accordingly, it may not place reliance on this report.

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