Changes to Report to incorporate Attachment H · MCU13/0092

Feresight

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3. MARKET FUNDAMENTALS

This section defines the trade area likely to be served by the proposed shopping centre.
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 centre’s probably
trade area, such as:

e the size, composition and function of the proposed centre development;
e its layout, ambience and parking;

e the size, composition and proximity of competitive centres;

e nature and proximity of other attractions;

e ease of access by car and foot; and

e natural and man-made barriers to movement such as the road network and
topographic features.

The proposed shopping centre development, which is considered a small Neighbourhood
Centre under Council’s hierarchy of centres, will be anchored by an IGA supermarket and
supported by a range of convenience oriented shops and services. The centre and site
will fill a market gap in the Peregian Beach and surrounding area, and complement the
network of established neighbourhood centres in and near the proposed centre’s trade
area.

Figure 3.1 shows the forecast main trade area defined for the purpose of the proposed
shopping centre, based upon 2011 Census Statistical Area 1 (SA1) boundaries, which are
now the smaliest geographic area for which 2011 census data is available.

The trade area encompasses the towns of Peregian Beach, Marcus Beach and
Castaways beach. The proposed centre will principally serve a geographic area for which
it is more convenient than other supermarkets. Therefore, the boundaries of the trade
area are restricted by centres with full-line supermarkets in Peregian Springs and Coolum
to the South. To the north, the centre would draw patronage from as far as the Marcus
and Castaways Beach area which currently has no food store facilities. The trade area is
bounded by Noosa National Park and to the west and the Coral Sea to the east.

Other than the existing Friendly Grocer food store which will be closing down due to
redevelopment, there are no supermarkets or food stores in the trade area. A possible
outlet in the proposed Essence Development, in view of its small size, would function as a
convenience store rather than a supermarket.

 

1
Needs Assessment, Peregian Beach Centre
13002 Rev 2
19 February 2013