9. Appendix F - Economic Impact Assessment

EXECUTIVE SUMMARY


Key points to note regarding this independent retail needs assessment for the proposed Noosa
Marketplace site, include:

Background
The proposed Noosa Marketplace site comprises a total of 12,780 sq.m of gross lettable area (including
8,780 sq.m of large format retail/non-retail showroom and 1,800 sq.m of business/retail incubator
floorspace), served by a provision of at-grade car parking which would be provided at the centre of the
site. The development would offer a high degree of customer amenity and convenience by way of its
high-profile site, easily accessible location and simple design.

The key economic issues of the proposed development are in relation to:

   ‒      The suitability of the site in accommodating predominantly large format retail and non-retail
          (e.g. trade and wholesale) showrooms;

   ‒      The effect that the proposed development would have on existing centres;

   ‒      The demonstrated economic need for the proposal in terms of fulfilling current and future
          demand;

   ‒      The significant employment opportunities (both immediate and ongoing) for the community;

   ‒      Consolidation of large format retail and non-retail showrooms;

   ‒      The limited impact of the proposed development on existing retailers within the region.

Suitability of Proposed Uses (vs intended)
The Noosa resident total trade area population is projected to increase from around 137,140 in 2018 to
155,340 by 2031. In Australia, there is around 2.3 sq.m of retail floorspace provided for every resident.
Of this 2.3 sq.m, approximately 30% is estimated to be large format retail floorspace, or some 0.6 – 0.7
sq.m of large format retail floorspace per person. In addition, non-retail showroom facilities such as
trade and wholesale showrooms and the like are estimated to make up around 0.3 sq.m per person.




        Noosa Marketplace, Queensland
        Economic Impact Assessment                                                                  3
        May 2019