9. Appendix F - Economic Impact Assessment

Land Supply

i.    Map 4.1 provides an illustration of land usage surrounding the Noosa site, specifically Industry and Noosa
      Business Centre zoned precincts adjoining the site. Table 4.2 summarises the findings of the high-level
      floorspace survey, with key points to note including:

          — Of the estimated 40.1 hectares of Noosa Business Centre-zoned land in the precinct, 71% is
              currently vacant or undeveloped. Around 5% of land was sold recently although is not yet fully
              leased, with the remaining 29% being occupied.

          — In contrast, of the estimated 64.1 hectares of Industry zoned land, just 7% of land is currently vacant
              or not being utilised. Approximately 1% of total Industry zoned land is currently for sale.

          — By way of contrast, vacant or unutilised land within the Industry zoned precinct surrounding the site
              totals just 4.7 hectares, compared to 28.4 hectares of vacant Noosa Business Centre zoned land
              (including the subject site). These individual industry-zoned sites are fragmented and could not
              accommodate the critical mass of large format retail/nonretail showroom is to service the coming
              undersupply within the total trade area.

          — Vacant industrial land is largely located in backstreet and/or internalised locations, while vacant
              Noosa Business Centre land naturally forms an extension of the Noosa Civic retail precinct.

          — Prospective large format retail and showroom tenants that are currently (and will be increasingly)
              demanded by the total trade area population are more likely to establish premises within high profile
              precincts or retail strips such as the subject site, as compared with internal, low-exposure sites such
              as the limited vacant parcels of land current zoned Industry.

ii.   Map 4.2 illustrates industrial-zoned land throughout the total trade area. As shown, the amount of land
      available for such uses is focussed in Noosaville, with very limited parcels of industrial-zoned land provided
      in and around Gympie. No industrial land is provided within the secondary sector.




          Noosa Marketplace, Queensland
          Economic Impact Assessment                                                                            57
          May 2019