MCU14/0056 - Attachment H -Economic Needs Assessment

         $67.5 million by 2017, the proposed development’s assumed first full year of
         trading;
         $69.9 million by 2019; and
         $72.1 million by 2021;

Table 3.4: Total available retail spend, Myall Street Mixed Use Development Trade Area, 2013 to 2021
(2013 $ values)
                          Take      Meals out                   Convenience     Comparison
Year ending                                         Apparel                                  Total
                         home        and take                   Homewares/      Homewares
June                                                  ($m)                                   ($m)
                     food ($m)      away ($m)                    services ($)         ($m)
2013
Cooroy East                12.6            5.4            2.8             6.4          8.5    35.6
Cooroy West                  9.2           4.0            2.1             4.7          6.2    26.2
Total Trade Area           21.8            9.4            4.9           11.1          14.7    61.9
2017
Cooroy East                13.8            5.9            3.1             7.1          9.3    39.2
Cooroy West                10.0            4.3            2.2             5.1          6.7    28.3
Total Trade Area           23.8           10.2            5.3           12.1          16.0    67.5
2019
Cooroy East                14.4            6.2            3.2             7.3          9.7    40.7
Cooroy West                10.3            4.4            2.3             5.3          6.9    29.2
Total Trade Area           24.6           10.6            5.5           12.6          16.6    69.9
2021
Cooroy East                14.9            6.4            3.3             7.6         10.0    42.3
Cooroy West                10.5            4.5            2.4             5.4          7.1    29.8
Total Trade Area           25.4           10.9            5.7           13.0          17.1    72.1
Increase 2013-17             2.0           0.9            0.4             1.0          1.3     5.6
Increase 2017-21             1.6           0.7            0.4             0.8          1.1     4.6
Total Increase               3.6           1.6            0.8             1.8          2.4    10.2

Note: Total figures may not add due to rounding
Source: Tables 3.1 and 3.3; Foresight Partners calculations

No allowance has been made for inflation in forecasting future retail expenditure, as
inflation does not create demand for retail floor space. However, a small increase of 0.5%
per annum has been factored into expenditure estimates post-2013 to reflect real
increases accruing in household spending over the period.


3.5       Retail Component Performance Prospects
This section sets out estimates of the retail component’s market prospects for the
proposed mixed use development and future performance. Potential impacts arising from



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Proposed Myall Street Development
12022 Rev 1
30 May 2014