Changes to Report to incorporate Attachment H · MCU13/0092

Feresight

partnersens

2.2.2 — Implications

None of the abovementioned supermarkets and food stores is considered to directly
compete with the proposed development as ail are well outside of Peregian Beach. The
existing Friendly Grocer food store will be closing down due to redevelopment leaving only
one food store located within the identified trade area that is likely to affect, or be affected
by, the proposed shopping centre development. This is an approved small food store
(approximately 150m?) which is expected to be part of the Essence Development on
David Low Way.

A food store of this size has a limited product range generally offering confectionary,
drinks and a small range of convenience food which is insufficient to meet the daily and
weekly shopping needs of residents and visitors. The timing of this development is
unknown, the original development approval was granted in 2010.

Some level of vacant space in the retail network is part of a healthy retail network as it
allows new businesses to enter the market and enables existing businesses to expand (or
contract) in response to changing market conditions. The presence of some vacant space
also helps to moderate rents within an area.

The low vacancy levels observed, and the general presentation and tenancy mixes of
existing centres suggest that the retail network serving the Peregian Beach area is
functioning well. Within Peregian Beach Village Square the quality of retail space is quite
low with only small retail tenancies available and inadequate parking provisions. Our
observations and tenancy records of the Village Square over the past several years also
indicate that it has performed well, with few vacancies evident. Discussions with local
agents reveal that the retail tenancies within Peregian Beach are tightly held and there is
strong demand for retail space.

 

10
Needs Assessment, Peregian Beach Centre
13002 Rev 2
19 February 2013