2016 08 09 - S&O Agenda - Item 8, Att 2 - AEC Noosa Convention & Performing Arts Centre Pre-feasibility Review

PRE-FEASIBILITY OF CONVENTION AND PERFORMING ARTS CENTRES



TABLE OF CONTENTS
DOCUMENT CONTROL .......................................................................................................................................... I

EXECUTIVE SUMMARY ........................................................................................................................................ II

TABLE OF CONTENTS ........................................................................................................................................VI

1.     BACKGROUND ............................................................................................................................................. 1

2.     CCIQ PROPOSAL AND COMMENTARY ..................................................................................................... 2

2.1        THE PROPOSAL ............................................................................................................................................ 2

2.2        LOCATION .................................................................................................................................................... 3

2.3        DEMAND ...................................................................................................................................................... 3

2.4        FINANCIAL PERFORMANCE ............................................................................................................................. 4

2.5        ECONOMIC IMPACTS ..................................................................................................................................... 4

2.6        COMMUNITY IMPACTS ................................................................................................................................... 5

3.     REVIEW OF “THE J” .................................................................................................................................... 6

3.1        ABOUT THE J ............................................................................................................................................... 6

3.2        FINANCIAL PERFORMANCE ............................................................................................................................. 7

3.3        ASSETS ....................................................................................................................................................... 7

3.4        REVENUE STREAMS ...................................................................................................................................... 8

3.5        STAFFING .................................................................................................................................................... 8

3.6        STRATEGIC PLANNING................................................................................................................................... 8

3.7        OBLIGATIONS ............................................................................................................................................... 9

4.     MARKET ASSESSMENT ............................................................................................................................ 11

4.1        NOOSA MARKET ......................................................................................................................................... 11

4.2        SUNSHINE COAST MARKET .......................................................................................................................... 12

4.3        COMPETITORS FROM OTHER REGIONS ......................................................................................................... 13

4.4        FINANCIAL PERFORMANCE ........................................................................................................................... 14

4.5        FUNDING ................................................................................................................................................... 15

4.6        KEY OUTCOMES ......................................................................................................................................... 15

5.     FINANCIAL ASSESSMENT ........................................................................................................................ 17

5.1        DEMAND .................................................................................................................................................... 17

5.2        CAPITAL COST ........................................................................................................................................... 18

5.3        REVENUE .................................................................................................................................................. 19

5.4        OPERATING EXPENDITURE .......................................................................................................................... 20

5.5        DEPRECIATION EXPENSE ............................................................................................................................. 20

5.6        PROFITABILITY ........................................................................................................................................... 20

5.7        OTHER CONSIDERATIONS ............................................................................................................................ 21

6.     COUNCIL FINANCIAL POSITION .............................................................................................................. 23




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