MCU14/0106 Appendix J - Retail Needs Assessment

8.3             GENERAL IMPACTS
Table 8.1 outlines an analysis of the average impact of the expansion of Noosa Civic in terms of the
proportion of turnover that will be diverted from other centres and stores that serve the trade area
population. This analysis is presented for the year 2018.

The key points to note from this analysis are as follows:

    Retail spending by trade area residents is forecast to grow by $148.8 million between 2014 and 2018
     (refer Table 5.8 in Section 5).

    The expansion of Noosa Civic is estimated to capture $117.0 million in retail turnover from main trade
     area retail spending (refer Table 7.9 in Section 7).

    Other retailers serving the trade area therefore would still stand to increase by at least $31.8 million of
     the forecast growth in the market between 2014 and 2018. As a consequence the turnover derived
     by retailers from the trade area would be some 3.0% higher than the current 2014 level even after the
     one off impact from the proposed development. Tourism growth would result in further turnover
     increases for existing centres.


General Impact on Retail Spending
NOOSA CIVIC EXPANSION, $2014 INC GST                                                                      TABLE 8.1
(21,950 sq.m of net additional floorspace)                             Row                         Analysis Year
                                                                     Reference            Unit         2018
Main Trade Area Spending 2014                                           (1)               $M          1,074.9
Main Trade Area Retail Spending (Analysis Year)                          (2)              $M           1,223.6
Main Trade Area Retail Spending Growth (Analysis Years)             (3) = (2) - (1)       $M             148.8
Net Additional MTA Resident Retail Spending to Noosa Civic               (4)              $M             117.0
Retail Spending Growth less Noosa Net Additional Turnover           (5) = (3) - (4)       $M              31.8
Average T/O Change Other Retailers (2014 to 2018)                    (6) = (5)/(1)          %            3.0%
Source: Urbis




8.4             CENTRE SPECIFIC IMPACTS
Potential economic impacts on specific centres from the proposed expansion of Noosa Civic are now
estimated and discussed. The following table outlines the existing retail locations which have been taken
into account.




URBIS
NOOSA CIVIC - RETAIL NEEDS ASSESSMENT DEC 2014 MASTER - FINAL                         ASSESSMENT OF ECONOMIC IMPACTS   111