Appendix F- Economic Impact Assessment · MCU23/0078

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providing higher-order shopping. The same conclusion was made in the Noosa Shire
Retail Plan.

Table 8 then examines the situation over the period 2022 to 2035 by applying the same
methodology. Two outcomes are highlighted:
1. Due to population growth within the catchment, the demand for traditional retail
   floorspace by catchment residents will increase from 152,500 sqm in 2022 to
   167,700 sqm in 2035 (row B). This represents an additional 15,200 sqm just to cater to
   the larger population base. Over just the period 2022 to 2027 the increased
   population generates an addition 7,800 sqm of new retail floorspace demand.
2. If no new floorspace is constructed (and holding the contribution from visitors
   constant) the proportion of retained demand for traditional retail floorspace by
   catchment residents would decline from 56% in 2022 to 51% in 2035.

The lower part of Table 8 (rows H to K) examines existing and future need for traditional
retail floorspace by adopting a retention rate of 70%. This is consistent with the Noosa
Shire Retail Plan and reflects the role that retailing within the NBC should play given the
designation in ShapingSEQ. Note that a 70% retention rate still allows for $3 in every $10
of traditional shopping to be directed outside the catchment, which is a sizeable amount
given the distances involved in such travel and the fact that the local centre hierarchy
provides for all levels of centres other than regional shopping (which is provided at
Maroochydore).
The analysis also incorporates retail floorspace demand from visitors travelling into the
catchment (tourists, non-resident workers, etc). This contribution is assumed to grow in
line with trends in tourist numbers over the period 2010 to 2019, which is +2.5% pa.
The analysis establishes that there is a current undersupply of 21,200 sqm of traditional
retail floorspace in 2022 compared to a situation in which retention rates were 70% as
supported by the designation of NBC as a Major Regional Activity Centre in ShapingSEQ.
By 2027 (when Noosa Civic Village would be operational) the undersupply would
increase to 30,450 sqm and then widen further to 42,850 sqm by 2035.

In summary, the analysis shown in Table 8 demonstrates that growth in the catchment
residential population and visitor numbers, combined with local services better reflecting
the role of NBC as a Major Regional Activity Centre, will generate significant demand for
new floorspace.

The analysis supports the conclusion that the current provision of retail floorspace
serving residents and visitors is inadequate given the intended strategic roles of centres
within Noosa Shire, and the designation of the NBC.
Overall, the analysis presented in Table 8 provides strong justification on need grounds
for the proposed 13,700 sqm of traditional retail floorspace at Noosa Civic Village by
2027, especially as this is within the existing controls set out in Noosa Plan 2020. In fact,
the analysis identifies potential for further retail expansions to occur elsewhere in the
catchment.




Noosa Village Mixed Use Development – Economic Impact Statement for Development Application   Deep End Services