Appendix G. Economic Report

                                                                                   Service Station and Convenience Retail Assessment
                                                                                                  175 Eumundi Noosa Road, Noosaville




3.4          Trading Comparison
The current grocer on the Subject Site is likely trading at a retail turnover density lower than a supermarket or
speciality shop. The standalone nature of the offering, combined with the inclusion of the juice bar, barber,
clothing retail and other associated uses, means it is expected that the retailers are trading at closer to
$5,250/sqm. This reflects a total annual turnover of $1.84m or 2.71% of the locally retained expenditure
in the catchment in 2018.
By comparison, the Proposed Development will include 123sqm of shop retail floor space, trading at closer to
$9,500/sqm in line with industry standards. This will result in the Proposed Development supporting $1.17m
of local retail expenditure annually upon commencement of operations. This will account for only 1.73% to
locally retained expenditure in 2018.


                                                      2.9%
              Share of Locally Retained Expenditure




                                                      2.7%

                                                      2.5%

                                                      2.3%

                                                      2.1%

                                                      1.9%

                                                      1.7%

                                                      1.5%
                                                             Current                           Proposed
                                                                       Development Scenario

           Figure 13 Share of Locally Retained Expenditure, by Development Scenario, 2018

Overall, this result means the Proposed Development will draw less retail expenditure away from existing
centres than the current informal retail on the site. Therefore, the Proposed Development will have less
impact on existing centres than current retail offering and will result in some expenditure flowing back
to other Centres.
Additionally, with a share of less than 1.8% of locally retained expenditure being captured and supported by
the site, the Proposed Development is minor in scale. In fact, the entirety of this share will be more than offset
by the growth in locally retained expenditure between 2018 and 2020 (2.93% growth over the two years).

3.5          Key Findings
The Proposed Development will provide approximately 123sqm of trading floor space for convenience retail
for the local community. This is less than half the trading floor space in the current informal retail offering on
the Subject Site (250sqm in Building A and 100sqm in Building B). Despite different retail turnover densities
under each scenario, the Proposed Development will have less impact on existing retail centres in Noosaville
than the current offering on the Subject Site, accounting for less than 1.8% of locally retained expenditure in
the area. This share is very small, is less than currently supported on the Site and will have no impacts on
existing retailers in the Catchment.




   138303-1 | 5 December 2017                                                                                                    22