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



1.         BACKGROUND
CCIQ Noosa has prepared a “Noosa Convention and Cultural Centre Initiative: Pre-feasibility Study” that considers
the location, construction and operation of dedicated Convention and Performing Arts Centres in central Noosa.
The proposal does not recommend one facility with dual purposing but two distinct and complimentary centres
operating independently but cooperatively. The favoured site outlined by CCIQ Noosa is the site of the current
venue centre “The J”.

The pre-feasibility Study was provided by CCIQ Noosa to Noosa Shire Council (Council) with the intention of
forming the basis for Council to commission a professionally executed full feasibility study into the location,
construction and operation of the proposed new facilities.

Council engaged AEC Group Pty Ltd (AEC) to undertake a review of CCIQ Noosa’s pre-feasibility study and to
include the development of initial high-level financial and economic impacts to allow Council to make informed
decision regarding whether it warrants the progress of the concept/proposal to the full feasibility stage.

AEC has adopted the following review process to inform the pre-feasibility assessment:

    Review and summary of the CCIQ Noosa pre-feasibility study.

    Review of the current site and facility (“The J”).

    Market assessment, including a review of competing facilities and the proposed positioning of the new facilities
     (taking into account a range of factors, including location/access, accommodation, attractiveness, etc.), in
     addition to a review of the performance of comparable facilities (to the extent possible given available
     information).

    High-level financial assessment of the proposed facilities, taking into account potential demands, revenues
     and costs.

    High level assessment of the potential implications for Council financial sustainability, based on assumptions
     regarding the initial financing of the facilities (e.g. proportion of potential external funding from government
     grants/subsidies).

    High-level economic assessment of the proposed facilities, taking into account potential changes in visitation
     and expenditure trends.

    Conclusions and recommendation regarding the appropriateness of progressing to full feasibility stage.




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