MCU14/0106 Appendix K - Commercial Needs Assessment

4.1.5         COMMERCIAL OFFICE SPACE SUPPLY SUMMARY
The estimated office floor space across the Sunshine Coast, totals 225,760 sq.m GFA. This includes
153,169 sq.m as identified by the PCA in the major locations of Maroochydore and Kawana, 25,852 sq.m
within the Noosa Civic catchment area and 50,000 sq.m in the remaining centres of the Sunshine Coast,
including Nambour and Caloundra (as outlined in Table 4.4 below).


Sunshine Coast Current Office Supply
FLOORSPACE – JULY 2014 – SQ M GFA                                                                                                                TABLE 4.4

                                                                                            Floorspace 1                                        Est. Market
                                                                 A Grade        B Grade        C Grade         D Grade             Total        Share (%)

Maroochydore and Kawana (Office)                                     70,731      55,295         25,643           1,500            153,169         66.9%
    Proportion of Total Core Market                                  46.2%       36.1%           16.7%           1.0%
Noosa Civic Catchment Area (Est. sq.m)                                                                                            25,852          11.3%
Nambour and others (Est. sq.m)                                                                                                    50,000          21.8%
Total Sunshine Coast Office Supply                                                                                                229,021         100%
1. Includes to tal co mmercial o ffice sto ck, including vacancies
So urce: QIC ; P ro perty Co uncil o f A ustralia Office M arket Repo rt July 2014 ; Co rdells Co nnect ; Urbis Land Use Survey


When examining the overall Sunshine Coast office floor space supply a number of key factors become
apparent:

    The Kawana and Maroochydore office centres represent approximately 67% of the total Sunshine
     Coast market. Of this stock, around 82% of the market is made up of A and B grade office product,
     highlighting the dominance of this type of office accommodation in these locations.

    The Noosa Civic catchment accounts for approximately 11% of the Sunshine Coast office floor space
     market.

    Other centres outside the Noosa Civic catchment and major locations of Maroochydore and Kawana,
     account for around 22% of the regional office market.

4.1.6         PROPOSED OFFICE MARKET SUPPLY
Estimates on planned and proposed office floor space supply for the Sunshine Coast region have been
derived from the Cordells Construction data base; discussions with active commercial developers on the
Sunshine Coast; and State and Local Government planning documents. Based on this information, future
office floor space supply by time periods for the Sunshine Coast region are presented in the following
table.




URBIS
REP_251114_NOOSA CIVIC COMMERCIAL NEEDS
ASSESSMENT FINAL                                                                                                  COMMERCIAL OFFICE SUPPLY ANALYSIS       21