Planning_Economic Impact Assessment

                                                                        Section 3: Trade area spending




     3.2 Specialty Retail Spending

     Table 3.4 details our estimates of sales potential for specialty retail within the
     trade area.

                                                         Table 3.4
                     Noosa Heads Bow ls Club trade area - specialty retail spend - 2013-2021*

            Year ending                                     Primary       Secondary        Total
            June                                         Trade Area      Trade Area

            2013                                              81             117           198
            2014                                              84             120           204
            2015                                              87             124           211
            2016                                              90             127           217
            2017                                              93             131           224
            2018                                              96             135           230
            2019                                              99             138           237
            2020                                             102             142           244
            2021                                             105             146           251

            Spending grow th ($M)
            2013-2021                                         24             29             53

            Average annual grow th ($M)
            2013-2021                                         3.0            3.6           6.7

            Average annual grow th (%)
            2013-2021                                        3.3%           2.8%          3.0%

            *Inflated do llars & including GST
            So urce: M arketInfo ; M acro P lan Dimasi




     Forecasted growth in specialty retail spending is projected at an average annual
     increase of 3.0%. Total specialty retail spending in the PTA is expected to
     increase from $80.6 million currently, to $104.9 million by 2021. Between 2013
     and 2015, with 2015 assumed as the first year of operation for the expanded
     specialty retail facilities onsite, specialty retail expenditure within the PTA is
     expected to increase by an estimated $6.1 million. From 2015 to 2017 there is
     estimated to be an additional $6.3 million generated throughout the PTA.


     Using average turnover rates for specialty retail we are able to estimate the
     demand for specialty retail floorspace in the PTA. The average retail turnover




                                                                      Noosa Heads Bowls Club, QLD
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                                                                            First Choice Assessment      18
                                                                                          Coles Group