Attachment 2 - Development Report - Noosa Springs Boutique Hotel by GH Australia.pdf

         •       The main clubhouse complex, day spa and the fitness centre (with 25 metre heated lap
                 swimming pool) are located on lower levels of the ridge.
         •       A carpark comprising 3 tiers is located adjacent to the clubhouse/spa complex.
         •       Heavily vegetated vacant land is situated to the north and east of Resort Drive owned by the
                 Noosa Council.
         •       The land on the southern side of Resort Drive is being developed as the Parkridge Noosa
                 residential estate.

2.3 Utilities
       All utilities are located underground along Resort Drive, to which the site has a broad frontage,
       and includes:

             •     Electricity - Energex provides electricity via the underground network of supply
                   throughout Noosa Springs, including the subject site
             •     Potable Water - Potable watermain is available along Resort Drive.
             •     Sewerage - Sewerage mains drains to a pump station situated within the golf course.
             •     Gas – LPG gas is also reticulated along Resort Drive
             •     Telecommunications – NBN broadband services are available to the site

3 Hotel Market
3.1 Noosa Accommodation Market
       According to market research undertaken by Lucid Economics, there is a shortage of high-quality,
       full-service hotel properties in the Noosa market. Noosa is dominated by smaller, unbranded,
       apartment style accommodation. The only branded full-service hotel in Noosa itself is the Sofitel
       and, so far as we are aware, no others are currently being planned. Market research also shows
       that Noosa is mainly a domestic tourist market with the key demographic segments being family
       groups and adult couples.

3.2 Noosa Springs Visitor Accommodation
       The Fairways apartments at Noosa Springs comprise 42 strata-titled apartments and Noosa
       Springs has provided letting management services since 2006. In recent years, The Fairways
       apartments have been increasingly used by owner/occupiers or rented on a long-term basis. At
       this time, only 15 apartments remain in the short stay letting pool and there are many occasions
       during busy periods that accommodation is not available to meet the demand.

       The Noosa Springs managers’ report that many groups in recent times have decided to go to
       other destinations because of the limited short stay accommodation available at Noosa Springs.
       During the last few months alone, many groups have inquired to stay at Noosa Springs but have
       not booked because of insufficient short-stay accommodation and are listed below:

                 Enquiry Date                      Type                      Number of Guests
                   Oct 2020                  Corporate getaway                    200
                  Nov 2020                      Conference                         80
                  Nov 2020                       Wedding                          100


Noosa Springs Boutique Hotel – Development Report                                            Page 3 of 13


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2.3

®

GH AUSTRALIA

e The main clubhouse complex, day spa and the fitness centre (with 25 metre heated lap
swimming pool) are located on lower levels of the ridge.

e Acarpark comprising 3 tiers is located adjacent to the clubhouse/spa complex.

e Heavily vegetated vacant land is situated to the north and east of Resort Drive owned by the
Noosa Council.

e The land on the southern side of Resort Drive is being developed as the Parkridge Noosa
residential estate.

Utilities
All utilities are located underground along Resort Drive, to which the site has a broad frontage,
and includes:

e Electricity - Energex provides electricity via the underground network of supply
throughout Noosa Springs, including the subject site

e Potable Water - Potable watermain is available along Resort Drive.

e Sewerage - Sewerage mains drains to a pump station situated within the golf course.

e Gas -—LPG gas is also reticulated along Resort Drive

e Telecommunications — NBN broadband services are available to the site

3 Hotel Market

3.1

3.2

Noosa Accommodation Market

According to market research undertaken by Lucid Economics, there is a shortage of high-quality,
full-service hotel properties in the Noosa market. Noosa is dominated by smaller, unbranded,
apartment style accommodation. The only branded full-service hotel in Noosa itself is the Sofitel
and, so far as we are aware, no others are currently being planned. Market research also shows
that Noosa is mainly a domestic tourist market with the key demographic segments being family
groups and adult couples.

Noosa Springs Visitor Accommodation

The Fairways apartments at Noosa Springs comprise 42 strata-titled apartments and Noosa
Springs has provided letting management services since 2006. In recent years, The Fairways
apartments have been increasingly used by owner/occupiers or rented on a long-term basis. At
this time, only 15 apartments remain in the short stay letting pool and there are many occasions
during busy periods that accommodation is not available to meet the demand.

The Noosa Springs managers’ report that many groups in recent times have decided to go to
other destinations because of the limited short stay accommodation available at Noosa Springs.
During the last few months alone, many groups have inquired to stay at Noosa Springs but have
not booked because of insufficient short-stay accommodation and are listed below:

Enquiry Date Type Number of Guests
Oct 2020 Corporate getaway 200
Nov 2020 Conference 80
Nov 2020 Wedding 100

Noosa Springs Boutique Hotel — Development Report Page 3 of 13