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

offset by the increase in range and convenience of retail facilities afforded by the proposed
development.
While the proposed development is anticipated to have some modest impact on the existing
Peregian Beach neighbourhood village in the short term, medium to longer term the proposed
development is likely to reinforce the neighbourhood centre by reducing the quantum of retail
expenditure leakage from the trade area. Therefore, in the medium to long term the proposed
development is not likely to be directly competitive (rather complementary) to the existing
Peregian Beach neighbourhood centre.
Table 5.1: Impact of Proposed Retail, 2015

Centre                            Retail Floor   Est. Sales   Est. Sales Impact ($M)   Impact (%)
                                        Space         (Pre)       (post)


Peregian Beach NC                        5,621      $32.60      $30.29        -$2.31        -7.1%
Peregian Springs SC (Coles)              3,901      $31.60      $29.12        -$2.47        -7.8%
Coolum Shopping Village (Coles)          3,913      $30.72      $29.10        -$1.61        -5.3%
Coolum Park SC (W'worths)                3,560      $29.01      $27.62        -$1.40        -4.8%
Coolum Esplanade                         6,247      $37.79      $36.18        -$1.61        -4.3%
Sunrise SC                                811        $5.07        $4.99       -$0.08        -1.6%
Sunrise Beach Centre                     1,249       $7.78        $7.68       -$0.10        -1.2%
Centres further afield                  45,548     $307.45     $306.59        -$0.86        -0.3%
Proposed development                    1,593             -     $10.75             -
Other                                        -                                -$0.31            -


Total                                        -    $482.02      $482.32      -$10.75             -


Source: Economic Associates estimates




Peregian Village Market Economic Need and Impact Assessment                                         25
December 2013 13034 Report Rev 0