MCU14/0106 Appendix K - Commercial Needs Assessment

 FACTOR                         ASSUMPTION

                               Noosa Civic catchment area.




Noosa Civic currently accounts for around 15% of the supply of office floor space in the catchment. Going
forward the Noosa Shire Business Centre is intended to be a significant location for office floor space in
the Shire. On this basis we have applied a range of market shares from 27%-50% that Noosa Civic may
achieve of future office floor space development in the catchment area. Based on this approach it is
estimated that demand for office floor space at Noosa Civic will range between 4,300 sq.m and 8,000
sq.m between 2013 and 2031.

NOOSA CIVIC MARKET SHARE                  METHOD 1 – DEMAND FOR         METHOD 2 – DEMAND FOR
                                          COMMERCIAL OFFICE SPACE       COMMERCIAL OFFICE SPACE

27% Market Share                                           4,300 sq.m               1,360 sq.m

50% Market Share                                           8,000 sq.m               2,530 sq.m

Source: Urbis, 2014


Applying the commercial office floor space ratio to the forecast population growth for the Noosa Civic
catchment area (method 2) will result in an estimated demand for office floor space for the catchment of
5,050 sq.m over the period from 2013 to 2031.

When the Noosa Civic market shares are applied to this office floor space demand estimate, this
generates an office floor space demand range for Noosa Civic over the period from 2013 to 2031 of 1,360
sq.m to 2,530 sq.m of core commercial office space.


7.2          CONCLUSION
On the basis of the commercial office demand assessment conducted in this report, it would appear
appropriate to allow for capacity up to 8,000 sq.m of commercial office floor space at Noosa Civic to
2031.




URBIS
REP_251114_NOOSA CIVIC COMMERCIAL NEEDS ASSESSMENT FINAL                            KEY FINDINGS AND CONCLUSION   43