MCU14/0056 - Attachment H -Economic Needs Assessment

3.        RETAIL MARKET FUNDAMENTALS
This section defines the residential trade area likely to be served by the proposed mixed
use development. The socio-economic characteristics of the trade area’s resident
population and forecasts of population growth and household formation are presented,
together with estimates of household expenditure potential available now and in future
years.


3.1       Trade Area Defined
Several factors will influence the geographic extent of the proposed development’s
probable trade area, such as:
         the size, composition and function of the proposed mixed-use development;
         the size, composition and proximity of competitive uses;
         nature and proximity of other attractions on-site and in other highway centres ;
         ease of access by car;
         natural and man-made barriers to movement such as the road network and
         topographic features.
The proposed mixed use development will incorporate a 920m2 IGA supermarket, a
260m2 fast-food retail outlet, self-storage units, service station and tourist accommodation
uses.
Although the development will have a strong highway focus in drawing customers and
visitors, its retail component will also serve local residents of the Cooroy region.
The IGA store is the main retail use of the proposed mixed use development. It, and to a
lesser extent, the fast-food restaurant and service station uses will determine the extent of
its local residential catchment or trade area. Its resident trade area encompasses the
Cooroy Township, as well as rural areas, especially close to the Bruce Highway.
The area shown in Figure 3.1 represents a sub-set of a much larger area served by the
Cooroy Business Centre.
Figure 3.1 shows the main trade area defined for the retail component of the proposed
mixed use development, based upon 2011 Census Statistical Area 1 (SA1) boundaries,
which are now the smallest geographic area for which detailed 2011 census data is
available.




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Proposed Myall Street Development
12022 Rev 1
30 May 2014