MCU14/0106 Appendix K - Commercial Needs Assessment

Executive Summary ...................................................................................................................................iii

1         Introduction ......................................................................................................................................1
1.1       Objectives ..........................................................................................................................................1
1.2       Definitions ..........................................................................................................................................1
1.3       Report Structure ................................................................................................................................1

2         Noosa Civic ......................................................................................................................................3
2.1       Regional Context ...............................................................................................................................3
2.2       Local Context .....................................................................................................................................5
2.2.1     Noosa Shire Business Centre ...........................................................................................................5
2.2.2     The Subject Site – Noosa Civic .........................................................................................................7

3         Noosa Civic Catchment Area .........................................................................................................9

4         Commercial Office Supply Analysis ............................................................................................16
4.1       Sunshine Coast Office Space Supply..............................................................................................16
4.1.1     Maroochydore And Kawana Office Supply ......................................................................................16
4.1.2     Nambour And Caloundra Office Supply ..........................................................................................19
4.1.3     Noosa Civic Catchment Office Supply.............................................................................................19
4.1.4     Other Sunshine Coast Office Locations ..........................................................................................20
4.1.5     Commercial Office Space Supply Summary ...................................................................................21
4.1.6     Proposed Office Market Supply .......................................................................................................21

5         Commercial Office Demand Drivers ............................................................................................24
5.1       Population Growth ...........................................................................................................................24
5.1.1     Regional Population Growth ............................................................................................................24
5.2       Noosa Civic Catchment Population Growth ....................................................................................25
5.2.1     Historic Growth ................................................................................................................................26
5.2.2     Land Release Patterns ....................................................................................................................26
5.2.3     Population Forecasts .......................................................................................................................31
5.3       Labour Force Demand Drivers ........................................................................................................33
5.4       Place Of Work..................................................................................................................................33
5.4.1     Industry Profile Of Local Workers ....................................................................................................34
5.4.2     Occupation Profile Of Local Workers ..............................................................................................35
5.5       White Collar Employment ................................................................................................................35
5.5.1     Office Based White Collar Employment Forecast ...........................................................................36

6         Noosa Civic Office Floor Space Demand Assessment..............................................................38
6.1       Market Share Approach – Method 1................................................................................................38
6.2       Office Floor Space Demand Estimate .............................................................................................39
6.3       Floorspace Demand – Floor Space To Population Ratio Approach ...............................................41

7         Key Findings and Conclusion ......................................................................................................42
7.1       Key Findings ....................................................................................................................................42
7.2       Conclusion .......................................................................................................................................43

Appendix A            Urbis Land Use Survey Methodology

Appendix B            Core Commercial Office Floorspace, Noosa Civic, June 2014

Appendix C            White Collar Employment




URBIS
REP_251114_NOOSA CIVIC COMMERCIAL NEEDS ASSESSMENT FINAL                                                                                       EXECUTIVE SUMMARY    i