Appendix F- Economic Impact Assessment · MCU23/0078

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•    Weyba Road, where the modelling indicates a potential impact on the existing ALDI
     (which is understood to trade well above average and is the only ALDI in the region).

Beyond these centres listed above, small changes in sales are likely to occur at a wide
range of centres across the catchment. In addition, centres outside the catchment are
expected to experience a loss of sales of $26.2m, representing a little more than 20% of
the total effect across the centre hierarchy.

The impacted centres outside the catchment would include regional shopping facilities in
Maroochydore to the south, or centres such as Gympie in the regional hinterland to the
north. The redistribution of shopping from these centres to the NBC is consistent with the
expectation that a greater share of retail demand is retained within the catchment (refer
section 5.5).
In percentage terms the largest impact is on the existing components of Noosa Civic,
which are expected to see a 11.5% decline in sales. Much of this effect is associated with
direct store-on-store competition between the two supermarkets, although impacts will
occur across categories depending on the exact nature of new retail tenants. Very little
impact on the Showroom precinct is expected.

The total net effect across the NBC would be an increase in sales from $204.9m (Base
Case in the absence of Noosa Civic Village) to $301.5m if the proposed development
proceeds – this represents a net increase in sales of $96.6m or a 47% increase in sales.

Other than at Noosa Civic, the impacts on other nearby centres most affected by the
project are around -7% to -8% in percentage terms. As noted above, this is well within the
typical variation in retail sales on an annual basis, and is not expected to lead to any major
change in retail tenants at these centres, particularly as these centres are generally
performing well with high average sales and low vacancies.
For other centres within the catchment not listed, the impacts average just 2.8% in
percentage terms.

Importantly, all of the modelled centres are expected to experience growth in sales
performance when compared against current estimated sales for 2022, with any
competitive effect outweighed by growth in the retail spending market in the intervening
period.




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