9. Appendix F - Economic Impact Assessment

           NEEDS ANALYSIS


The final section of this report summarises the key conclusions of the impact analysis for the proposed Noosa
Showroom development.

‘Need’ or ‘Community Need’ in a planning sense is a relative concept that relates to the overall wellbeing of a
community. A use is needed, for example, if it would, on balance, improve the services and facilities available
in a locality. The reasonable demands and expectations of a community are important, therefore, in assessing
need.

A number of important factors that relate to need, particularly economic need, include:

           ‒         Population growth                                   ‒     Site location

           ‒         Demand for facilities                               ‒     Impact on hierarchy

           ‒         Consumer trends                                     ‒     Impact on existing retailers

           ‒         Existing supply                                     ‒     Net community benefits


5.1.       Population Growth

    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. Non-retail trade showroom floorspace counts for another 0.3 sq.m per
          person, resulting in an average of around 1 sq.m per person of large format retail and non-retail
          showroom floorspace.

    ii.   The provision of large format retail/non-retail showroom floorspace across the total trade area is
          currently estimated at 94,221 sq.m. This would equate to a provision of around 0.68 sq.m per person,
          which is lower than the typical benchmarks despite the inclusion of additional tenant categories.

    iii. Over the period to 2031, the total trade area population is projected to increase by 17,600 to 155,340.
          If the large format retail and non-retail showroom floorspace demand per person is recorded at 1.0
          sq.m, this would lead to an overall demand of large format retail floorspace of 155,340 sq.m by 2031,
          an increase of 17,600 sq.m on the current demand (refer Table 4.1). If there were to be no increases in




          Noosa Marketplace, Queensland
          Economic Impact Assessment                                                                           67
          May 2019