07/1259 - Peregian Beach needs assessment [As Published] · 132007.1259

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Section1 Function and Site Assessment

41 Introduction

This section provides an outline of the function of the needs assessment. In
addition, the characteristics of the site and surrounding land uses are assessed
from a market perspective to determine the relevant locational considerations for
the site.

1.2 Function Assessment

The market of the budget tourist accommodation component of the proposed
development will be residents of Brisbane and South East Queensland visiting
the Sunshine Coast for a holiday. The market of the retail and commercial office
space component of the proposed development will include: tourists on-site,
tourists within a 400 metre radius of the subject site and local residents.

General accommodation trends reveal a declining supply of affordable family and
budget tourist accommodation with redevelopment. For these markets, the
tradition of a cheap family seaside holiday is at risk. While caravan parks have
provided a source of affordable holiday options for Australians in the past, as
Reed and Greenhalgh (2004)! note, emerging trends in the property market have
threatened the viability of caravan parks. Consequently, for caravan parks to
maintain required income levels, many operations have trended towards more
profitable and economically sustainable tourist accommodation options.

As a result of constrained supply, there is growing demand for family budget
accommodation, where families and individuals on below averages incomes will
drive to the site for five to 10 days holiday. Peak periods for the proposed
accommodation are expected to be summer schoo! holidays, with the site
Catering to a broad range of users during the remainder of the year.

1.3 Concept Proposal

The site is located at 215 - 219 David Low Way, Peregian Beach, and consists of
lots 8, 9 and 10 on RP9315 and lot 76 on Crown Plan MCH 2969. The site has
good exposure with Western frontage along David Low Way, a major arterial
serving the coastal corridor, linking Noosa in the north and Coolum and
Maroochydore in the south.

The site is designated under the Peregian Beach Neighbourhood Centre node.
Lots 8, 9 and 10 are zoned for Semi-Attached Housing and lot 76 as Open Space
Recreation. Under the Peregian Beach Village Masterplan, the portion of the site
fronting David Low Way has been nominated as a Business Activity area and is
intended for offices, medical and home based business uses.

1 Reed R., and Greenhalgh, E. (2004). Caravan parks as a provider in the affordable
housing market. Journal of Property Management.

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Scanlon Property Group - Peregian Beach Needs Assessment 'Eepnomies