Attachment 7 - Economic Need and Impact Assessment · MCU13/0251

tourism appeal of Peregian Beach, non-trade area expenditure would tend towards the upper end
of the range reported above (that is, 17.5% of turnover to be sourced from non-trade area
expenditure).
The proposed limited supermarket is anticipated to generate turnover of appropriately $8.38
million (or in its first full year of trade (2015), increasing to approximately $9.14 million in 2021.
Table 4.5 below outlines the anticipated market shares and turnover for the proposed limited-line
supermarket in the 2015 to 2021 period.

Table 4.5: Market Share Analysis, Proposed Limited-Line Supermarket, 2015-21 ($M, 2013
dollars)

                                              Contribution    2015    2017    2019      2021
                                              to turnover


 Trade area market share                         50.0%        $6.91   $7.12   $7.33     $7.54
 Non-trade area expenditure (% of turnover)      17.5%        $1.47   $1.51   $1.55     $1.60
 Total                                             -          $8.38   $8.63   $8.89     $9.14


Source: Economic Associates estimates


4.2.2 Market Share of Specialty
The proposed development is to incorporate a range of specialty tenancies totalling 393m2.
These tenancies will cater for small specialty shops offering a range of retail options and
potentially professional offices. As stated above, the analysis assumes all tenancies are taken up
for retail uses.
The retail tenancies are likely to be weighted towards convenience (e.g. specialty food, retail
liquor), café/take-away and/or personal services. Given the proposed centres is located within a
tourist areas, small fashion shops may also be potential tenants. Core and ancillary bulky goods
and hardware are not considered to be likely tenants, hence expenditure relating to these types of
tenants has been excluded from the analysis.
With the proposed development being located on David Low Way and within an area popular
with visitors, non-trade expenditure is likely to tend towards the upper end of the 10%-20%
range mentioned previously. Trade area market share is likely to be influenced by the ultimate
tenancy mix of the specialty retail component. However, assuming that the specialty retail has a
more convenience focus than the specialty retail provided within the existing Peregian Beach
retail/commercial hub, the specialty component is expected to capture just less than 10% market
share of available specialty expenditure.
As such, the specialty retail component of the proposed development is anticipated to generate
turnover of approximately $2.38 million in its first full year of trade (2015), increasing to
approximately $2.59 million in 2021.
Table 4.6 below outlines the anticipated market shares and turnover for the proposed specialty
tenancies in the 2015 to 2021 period.




Peregian Village Market Economic Need and Impact Assessment                                       21
December 2013 13034 Report Rev 0