9. Appendix F - Economic Impact Assessment

        the current supply of large format retail floorspace, this would lead to excess demand of around 61,119
        sq.m of large format retail and non-retail showroom floorspace.

  iv. Future population growth is likely to attract of families to the area. Family orientated households are
        more likely to invest in their properties and generally spend a higher proportion of their income on large
        format retail products.


5.2.     Large Format Retail Trends

  i.    Large format retailing has evolved in recent years in Australia and incorporates bulky goods and retail
        showroom uses. Large format retailing includes categories such as automotive parts, accessories,
        repairs and services, camping, outdoor and recreation goods, electric, light fittings, pet supplies, food
        and window coverings, furniture, bedding, furnishings, fabric, manchester and homewares, household
        appliances, household electrical goods and home entertainment goods, party supplies, swimming
        pools, office equipment and supplies, baby and children’s play equipment and accessories, hardware
        and landscape garden supplies etc.

  ii.   The development of large format retail/bulky goods in Australia has been evolving over time. Initially,
        bulky goods tenants preferred to locate in free-standing facilities along major roads. There has been an
        increasing trend for bulky goods to co-locate within one centre or precinct as bulky goods customers
        seek to compare products and prices across a range of stores, with all traders benefiting from the
        creation of a strong destination.

  iii. In recent years, there has been an increasing focus on dedicated homemaker centres, which provide a
        broad range of tenants as well as easy accessibility and car parking. In addition, the greater
        convenience and amenity for customers has also contributed to an increase in the development of large
        format/bulky goods centres in Australia

  iv. Large format retail/bulky goods centres typically serve broad geographic trade areas due to the nature
        of bulky goods which tend to be purchased by a large number of people on an infrequent basis. In
        recent times, the tenants looking to locate in bulky goods/large format areas have expanded. This is
        due to retail tenants (e.g. toy and camping equipment stores, etc.), trading in a similar manner, where
        they attract low market shares across broad regions on an infrequent basis. Consequently, ‘retail
        showroom’ tenants are suited to locations similar to bulky goods centres requiring frontage to a major
        road with easy access.

  v.    Large format retail/bulky goods centres/precincts are typically located in extremely high profile, main
        road locations and, therefore, receive excellent exposure to passing traffic and are easily accessible
        from both a local and regional perspective. The co-location of facilities in a single centre/precinct results




        Noosa Marketplace, Queensland
        Economic Impact Assessment                                                                              68
        May 2019