MCU14/0056 Economic impact report Att B - Information response

gauge the depth (or duration) of this apparent undersupply, the modular nature of the
intended design of the units will allow them to be built in stages, if warranted, to better
align with future market demand.
Inclusion of secure self storage units as part of the mixed use development will have no
discernable impacts upon the Cooroy town centre or other commercial areas of the
township or wider Noosa region. Any impacts upon existing businesses will be of a
competitive or commercial nature only. Their addition as part of the Myall Street
development will benefit the broader community.

Impact on Industrial land
Cooroy’s existing self storage facilities are located in the Cooroy Industrial Estate, and
others in Noosaville are also located in an industrial area. Some are associated with other
businesses, such as removal companies, which necessitate an industrial location, or a
location removed from (higher value) commercial areas.
Although used by households and businesses, self-storage facilities are a low impact
industrial activity, and they are drawn to industrial land because of generally higher land
requirements and lower costs. However, for an industrial activity, they employ very few
people. IBISWorld data on establishments and employment for the self storage industry
indicate that, nationally, such establishments employ an average of just two people.
Inspection of Industrial zoned land in Cooroy’s two main industrial areas (Cooroy
Industrial Estate and the Lowermill Road area) revealed that:
    •    There are approximately 11.29 hectares of Industrial zoned land in the Cooroy
         Industrial Estate, spread across 25 lots. Three of these lots, totaling 4.86ha, are
         vacant and owned by Council.

    •    Another three hectares of Industrial zoned land is located in the Lowermill Road
         area, spread across 12 lots. One of these lots has been subdivided and is partially
         vacant (approximately 0.24ha) and is privately owned. It is the only vacant
         industrial land in the Lowermill Road area.
Of Cooroy’s 14.29ha of Industrial zoned land, only 5.1ha are currently vacant. However,
4.86ha of this vacant land is Council owned. This leaves approximately 0.24ha of
privately owned vacant Industrial zoned land in Cooroy (approximately 1.67% of Cooroy’s
total Industrial zoned land).
As self storage facilities are low density and low employment, building such a facility on
Cooroy’s very limited vacant Industrial zoned land would be an inefficient use of land
generally intended for more productive employment generating industrial activities.
Economic Development Queensland’s (EDQ) 6.56ha Nandroya Industrial Estate located
on Holts Road, south of Cooroy still has three of its six lots available for sale (or lease).
These are large lots (1.05, 1.51 and 2.02ha) and potential buyers/lessees must meet
EDQ’s eligibility criteria. This industrial area is an unlikely alternative location for the
proposed Myall Street self storage units.


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Myall Street – Information Request Response
12022-1 Rev 0
22 December 2014