9. Appendix F - Economic Impact Assessment

           ASSESSMENT OF POTENTIAL


This section of the report considers the potential for the proposed Noosa Marketplace, as well as the likely
trading and other impacts which can be anticipated following construction.


4.1.       Floorspace Supply and Demand

Floorspace Demand

   i.     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 in large format retail floorspace, or 0.6 – 0.7 sq.m of large format
          retail floorspace per person.

   ii.    In addition, non-retail showroom facilities such as trade and wholesale showrooms or non-retail display
          suites are estimated to make up around 0.3 sq.m of floorspace per person. This does not include vehicle
          showrooms (cars, boats, trucks etc.).

   iii.   Table 4.1 outlines the estimated current large format retail and non-retail floorspace demanded by total
          trade area residents and the likely growth in this demand over the period to 2031.

   iv.    The average provision of large format retail floorspace and non-retail showroom facilities in combination
          is typically 0.9 – 1.1 sq.m per person. There are currently 137,740 persons residing in the Noosa total
          trade area. Based on this benchmark, the current total trade area population would demand of
          approximately 124,000 – 150,000 sq.m of large format retail floorspace in 2018.

   v.     Table 4.1 also outlines the provision of large format retail and non-retail showroom floorspace currently
          provided within the total trade area. This information is based on a detailed survey undertaken by
          Location IQ in April 2019 and includes GLA estimates for the individual tenants outlined previously in
          Section 3.1 of this report. For the purposes of this assessment motor vehicle/boat show rooms have
          been excluded from the survey.

   vi.    As shown, the provision of large format retail/showroom floorspace across the total trade area is
          estimated at just over 94,200 sq.m. This equates to a provision of around 0.68 sq.m per person, which
          is lower than typical benchmarks despite a broad interpretation of the large format retail and showroom
          category in this case.




          Noosa Marketplace, Queensland
          Economic Impact Assessment                                                                           55
          May 2019