Appendix F- Economic Impact Assessment · MCU23/0078

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Executive   Background
summary     1.    This report has been prepared for Stockwell Development Group Pty Ltd (Stockwell)
                  to analyse the economic impacts – both positive and negative – arising from the
                  construction and operation of the Noosa Civic Village Mixed Use Development
                  (‘Noosa Civic Village’). The development will operate as an expansion of the existing
                  Noosa Civic Shopping Centre and is within the Noosa Business Centre (NBC) at
                  Noosaville. The NBC forms part of a significant employment district extending into
                  neighbouring industrial and health precincts which together contain a total of
                  approximately 4,600 jobs.

            2. Noosa Civic Village will include accommodation, office, retail, entertainment and
               dining uses. It is proposed to incorporate 13,700 sqm of retail floorspace (including a
               supermarket) along with a cinema and entertainment centre, upper level offices and
               flexible co-work spaces, and 96 apartments.
            3. ShapingSEQ designates the NBC as a ‘Major Regional Activity Centre’ with planning
               policy support for a wide range of retail, entertainment, business, civic and other
               uses.
            4. Noosa Plan 2020 provides strong policy support for the NBC to grow as a location
               for employment and activity. The planning scheme identifies the NBC as one of two
               major centres but also references the centre’s designation as a Major Regional
               Activity Centre in ShapingSEQ and identifies it as having the predominant role
               providing future long-term growth and employment in Noosa Shire.
            5. The proposed retail component at Noosa Civic Village (13,700 sqm) is consistent with
               Noosa Plan 2020 which allows for an additional 6,500 sqm of code assessable
               floorspace within the Retail precinct of NBC, as well as 7,500 sqm allowable as
               impact assessable within the Village Mixed Use (VMU) precinct.

            6. The other proposed uses are also consistent with Noosa Plan 2020.

            Justification for proposal
            7.    Retail provision at the NBC serves a wide catchment that extends across the Shire
                  and into the regional hinterland, with the extent of this catchment informed by
                  analysis of visitation to Noosa Civic using mobile geolocation data.
            8. The catchment has continued to experience population growth even during the
               COVID pandemic, and growth is forecast to continue mainly through infill
               development and high-density housing close to activity centres, with the rate of
               growth increasing once overseas immigration recommences.
            9. Tourism makes a significant contribution to local activity, in terms of the numbers of
                  visitors and spending on retail and other goods and services.
            10. Given the intended strategic roles of centres within Noosa Shire, and the designation
                of the NBC as a Major Regional Activity Centre, the current provision of traditional
                retail floorspace (ie excluding LFR formats) is inadequate, with an immediate
                undersupply evident, as well as a need for additional retail provision to support
                ongoing growth.

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