MCU14/0106 Appendix J - Retail Needs Assessment

Executive Summary
This report presents an analysis of the need and demand for, and impacts arising from, the proposed
expansion and redevelopment of Noosa Civic. The following executive summary details the key
conclusions arising from the analysis presented in this report.


PROPOSED DEVELOPMENT
This report has been prepared on the basis of the following proposal and focusses specifically on the
retail component of the proposed development:

    The proposed development scheme includes a GLA of 21,980 sq.m for all retail activities to be
     developed within the Noosa Shire Business Centre.

    This includes additional space as a result of the reconfiguration of Noosa Civic, as well as the
     addition of new retail floorspace.

    The plan shown in Appendix A of this report depicts the expansion.

The Noosa Plan stipulates that any development of retail businesses of ‘Type 2’ (i.e. Shop and salon)
greater than 2,000 sq.m within the Noosa Shire Business Centre is subject to an impact assessable
application.


TRADE AREA
The trade area of the current and proposed development is comprised of a primary sector and 4
secondary sectors. These trade area sectors have been determined by Urbis based on customer surveys
as well as electronic spending data (i.e. credit card, debit card and eftpos transactions) provided by
Quantium.

Based on the results of the latest Census of Population and Housing (2011), together with Australian
Bureau of Statistics (ABS) intercensal population estimates and building approvals data to 2014, it is
estimated that the Main Trade Area population (i.e. primary and secondary sectors combined) was
approximately 81,000 people in 2014.

Taken into account recent trends, as well as Office of Economic and Statistical Research (OESR)
broadhectare land supply data, the trade area population is expected to increase to 89,900 people in
2021 and 95,550 people by 2031. These Urbis forecasts are marginally lower than the official OESR
forecasts from the Department of State Treasury.

As a consequence of the Main Trade Area population, the socio economic characteristics of the market,
and the anticipated level of growth, retail spending by trade area residents is forecast to increase from
$1.075 billion to around $1.346 billion in 2021 and $1.698 billion in 2031. These forecasts are expressed
in 2014 dollar terms (i.e. excluding inflation), including GST, and suggest 3.3% real growth per annum
between 2014-2021 and a conservative 2.4% real growth per annum from 2021 to 2031.

The forecast growth between 2014 and 2021 amounts to $271 million, and this will clearly support
performance improvement in existing centres, both within and outside the trade area, as well as
expansion opportunities in various locations.


ROLE AND FUNCTION OF NOOSA CENTRES
Customer surveys were undertaken as part of this study in Noosa Junction, Hastings Street, the riverside
part of Noosaville, and Tewantin to measure the incidence of usage by locals and visitors, and to
determine the types of retail, leisure and other activities undertaken within each precinct.




URBIS
NOOSA CIVIC - RETAIL NEEDS ASSESSMENT DEC 2014 MASTER - FINAL                                    EXECUTIVE SUMMARY   i