MCU14/0106 Appendix J - Retail Needs Assessment

This broadly based analysis results in two important conclusions of relevance to this assessment:

     Firstly, there is undoubtedly potential to retain a proportion of escape spending by providing a better
      range of facilities and services locally. This ‘source of sales’ would result in diversion of retail trade
      from external centres and would have no impact on local centres at all.

     Secondly, to the extent that local retailers are achieving reasonably strong trading levels, any impacts
      resulting from the subject development proposal would be off a reasonably high base and therefore
      less likely to result in closures than may otherwise be the case. In other words, local centres are likely
      to be reasonably resilient.


Estimated Retail Floorspace Supply for Residents
                                                              1
NOOSA CIVIC MAIN TRADE AREA                                                                                                                                     TABLE 7.3
                                                                                 Estimated Proportion Floorspace Serving                                 Floorspace Serving
                                                        Retail GLA 1                   Tourists          Tourist Market                                       Residents
Location                                                  (Sq.m)                         (%)                (Sq.m)                                             (Sq.m)
Noosa Shire Business Centre                                 21,167                           23.0%                               4,860                         16,310
Noosaville                                                  25,700                           30.0%                               7,720                         17,980
Noosa Industrial                                            15,100                            5.7%                                  860                        14,240
Noosa Bushlands (Noosaville)                                      600                         3.5%                                    20                          580
Weyba Road (Noosaville)                                       2,500                          20.4%                                  510                         1,990
Noosa Junction                                              18,300                           48.9%                               8,950                          9,350
Hastings Street                                             12,500                           91.0%                              11,380                          1,120
Quamby Place (Noosa Heads)                                    1,900                          68.5%                               1,300                            600
Tewantin Town Centre                                          8,600                          35.7%                               3,070                          5,530
Noosa Outlook (Tewantin)                                      1,500                          17.4%                                  260                         1,240
Earl Street (Tewantin)                                            400                        15.0%                                    60                          340
Sunshine Beach                                                2,000                          75.3%                               1,510                            490
Sunrise Beach                                                     700                         5.4%                                    40                          660
Coolum Beach                                                10,300                           41.7%                               4,290                          6,010
Coolum West                                                   4,900                          27.5%                               1,350                          3,550
Coolum South                                                  1,400                          37.9%                                  530                           870
Peregian Beach                                                3,200                          64.1%                               2,050                          1,150
Peregian Springs                                              4,200                          26.4%                               1,110                          3,090
Cooroy                                                        8,500                          37.2%                               3,160                          5,340
Pomona                                                        4,500                          54.9%                               2,470                          2,030
Eumundi                                                       2,400                          58.1%                               1,390                          1,010
Kin Kin                                                           400                        32.0%                                  130                           270
Cooran                                                            400                        10.0%                                    40                          360
Noosa Civic MTA                                           151,167                             37.7%                             57,060                         94,110
1. Retail as defined by Urbis.
2. So me to tals may no t equal the sum o f their parts due to ro unding.
2. Retail Sho wro o m vacancies are tho se that po tentially are mo st likely to pro vide fo r retail tenancies, based o n size, style and lo catio n.
3. Other vacancies include tho se mo st suited to o ffice o r pro fessio nal suite uses.
So urce: P CA A ustralian Sho pping Centre Database June 2014 ; Urbis




7.4            FUTURE DEMAND FOR RETAIL FLOORSPACE
The previous sections of this report have provided a review and analysis of the attributes of the existing
and anticipated future retail market of relevance to the Noosa Civic expansion. This analysis has
demonstrated that, although there is population growth, the main driver of future demand for additional
retail facilities will be the current under-supply as well as ‘real’ growth in expenditure levels. There is
already substantial ‘leakage’.




URBIS
NOOSA CIVIC - RETAIL NEEDS ASSESSMENT DEC 2014 MASTER - FINAL                                                                         ASSESSMENT OF NEED AND DEMAND      101