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

1         INTRODUCTION
Economic Associates was engaged by Scanlon Property Group to prepare an economic need and
impact assessment of a proposed retail development anchored by a limited line supermarket.
The purpose of the economic need and impact assessment is to:
• Assess the demand for additional facilities within a relevant trade area catchment;
• Estimate the likely prospects for the proposed development based on demand and the existing
  and approved network of facilities servicing the identified trade area catchment;
• Estimate the likely impact on the existing, approved and designated centres network of the
  proposed development; and
• Assess the need for the proposed development having regard to the balancing of maximising
  the provision of facilities against the viability of the existing, approved and designated centres
  network servicing the identified trade area catchment.

1.1       Subject Site & Proposed Development
The proposed development is located at 215 David Low Way, Peregian Beach and would
comprise 1,593m2 of gross lettable area (GLA), including:
• Limited line supermarket, with a total GLA of 1,200m2 (including a 250m2 loading dock); and
• A number of specialty tenancies ranging in size between 60m2 and 100m2, with a combined
  GLA of 393m2.
The specialty tenancies may be used for either retail or office uses. This assessment assumes that
all specialty tenancies are taken for retail. This assumption is likely to result in an overstatement
of impacts on other centres, hence it is a conservative assumption.
It is our understanding that the subject site currently has development approval for visitor
accommodation, retail, restaurant and office uses to be developed over a number of stages:
• Stage 1 - Retail tenancies (about 387m²) and restaurant (about 306m²) with an additional 70m²
  of outdoor dining, with further visitor accommodation over (about 800m²);
• Stage 2 – 32 Dual Key Dwelling Units; and
• Stage 3 – 30 ‘Beach Shacks’ (Dwelling Units), comprising
    –   9 two bedroom shacks,
    –   19 three bedroom shacks; and
    –   2 four bedroom shacks.
The subject development application would in effect significantly reduce (by approximately 35%)
the gross floor area and number of dwellings previously approved on the subject site. – refer
Table 1.1 below. The subject development application would effectively replace stage 1 of the
current approval.
The subject site is located opposite the existing Peregian Beach neighbourhood centre. A review
of the Peregian Beach neighbourhood centre indicates that there is no opportunity to
accommodate facilities similar to that proposed in the subject development within the existing
centre.



Peregian Village Market Economic Need and Impact Assessment                                       1
December 2013 13034 Report Rev 0