260327_Stockwell Further Advice Response

Table 1: Socio-demographic Profile (of the Trade Area)
                            Trade Area                SEQ                  Australia
 Age – 50+                     42.4%                  34%                   35.4%
 Median Age                      49                    39                     38
 Couple households, no         35.5%                 27.5%                  26.9%
 children
 Home ownership                73.6%                 65.2%                  68.3%
 Median house price           $2.27m                      $1.19m (Sunshine Coast)

It is further noted at section 3.3 of the Economic Needs Assessment, that the trade area
population and tourist population is expected to continue to increase annually to 2031. This
growth will generate an associated increase in related indoor sport, health and wellness services
demand.

Expenditure and participation across sports, fitness, recovery and wellness activities has
increased substantially over the past five years, with a noticeable supply response in many areas.
This trend is expected to continue increasing, particularly in areas like Noosa where there are
higher proportions of self-funded and active retirees, as well as younger people with relatively
high household incomes and tourists/visitors to the area.

Gap Analysis
As outlined in section 5 of the Economic Need Assessment, there is identified need for Indoor
Sport and Recreation uses; specifically, gyms, pilates, yoga and sport recovery.
    - Gyms (s5.1): demand for up to seven (7) additional gyms within the
        trade area
    - Pilates (s5.2): demand for up to four (4) studios (if demand from
        tourism is taken into account)
    - Yoga (s5.3): demand for up to four (4) studios (based on resident
        demand alone)
    - Sports Recovery (s5.4): undersupply of up to two (2) recovery facilities

Collectively, it is concluded that the trade area could sustain at least seventeen (17) additional
Indoor Sport and Recreation establishments, without consideration to future population and
expectant tourism growth.

With consideration to the size of the tenancies proposed, the assessment undertaken identifies
that while there are seventeen (17) existing Indoor Sport and Recreation establishments
operating in the trade area, only three (3) of these have a floorspace exceeding 400m2. This
clearly identifies the demand for smaller, local and more specialized facilities within the locality.

The proposed use compliments the Major Centre (Noosa Business Centre) by generating
development and growth in Noosa Shire, particularly those which are associated with health and
wellness uses.

In addressing Major Centre Zone Code Overall Outcome (4)(a), the report highlights that the
ongoing vacant status of the tenancies at Medihub demonstrates lack of demand for large
format showroom retail uses at this location. The subject tenancies have remained vacant since
completion of the Medihub building in 2024, despite active marketing and leasing efforts. The