Attachment 5 - Economic Needs Analysis

                                                      Rufous St Master Plan Commercial Development


11      SIGNIFICANT COMMERCIAL DEVELOPMENT POST 2007
Commercial development at Peregian Beach prior to 2007 was generally confined within the
Peregian Beach Village square and serviced a stable population of 3500, a hardware store and the
Bowls Club being the major developments on the western side of the David Low Way. The Bowls
Club had suffered financially for a number of years effectively closing in 2011 prior to being
purchased by the Noosa Council in 2014

Peregian Springs was commenced in 2004 and with it a significant expansion of the population.
Several large developments have been approved and constructed particularly on the western side of
the David Low Way and also along Heron Ave.

      2007 221 to 229 David Low Way Peregian Beach Hotel and Commercial Services (TAB)
      2008 243 to 253 David Low Way Marquesas on Peregian 992m² Commercial Offices
       particularly medical services.
      2008 Cnr 1Woodland Dve and David Low Way Peregian Community House.
      2008 253 David Low Way Council car park.
      2014 215 David Low Way Essence of Peregian IGA and speciality shops 950m² gross floor
       area plus a 253m² service area 393m² of speciality shops comprising 5 tenancies ranging
       from 68m² to 84m² may be used as a mix of shops offices and restaurant uses 62m² outdoor
       dining areas
      2007 224 to 228 David Low Way and 3 & 5 Heron Ave The Boardwalk 130m² medical, 343m²
       office, 346m² restaurant, 499m² shops and 3x 1 bedroom units.

The proposed development is an extension of this growth


12      IMPACT ANALYSIS

12.1 Office Space
It is considered the proposed that the geographical location of the Rufous St development is
sufficiently separate from other commercial precincts in the Noosa Shire, such as Noosa Junction
and Noosa Civic to have only marginal impact on them. These precincts have their own catchments
and serve different markets.

Within the Peregian Beach catchment there is presently approximately 300m2 vacant office space,
with some churn as new businesses seek to establish themselves. .

There is very little large office space available for a successful business should they wish to expand
and consequently they are obliged to relocate.

Retail type business are generally providing better returns through demand for available space
putting price point pressure on office based ventures. Major commercial agents report little
difficulty filling premises that are priced to the market stimulated by the high population growth
rate.