Changes to Report to incorporate Attachment H · MCU13/0092

Foresight

partnersinn

4. CENTRE PERFORMANCE, POTENTIAL
IMPACTS AND NEED

4.1 Performance Prospects

The tenancy mix of the proposed centre will strongly influence its likely performance, as
will its location, accessibility and proximity to trade area residents, local workforce and
visitor accommodation.

4.1.1. Centre Composition and Function

The 1,844m? of lettable area at the proposed centre will be dominated by an IGA, which
will occupy 1,100m? or about 60% of its floorspace. A further 644m? is expected to be
occupied mostly by convenience food retailing and food services. This indicative tenancy
mix is summarized in Table 4.1.

Table 4.1: Indicative Tenancy Mix, Proposed shopping centre

 

 

 

Convenience Other

Shop type ane mae Mesig out’ Homewares {Non- Total (m*)

food (m?) takeaway (m’) (m’) Ratsit ni)
IGA supermarket 900 200 1100
Bakery/Cakes/Pastries 108 108
Bottle Shop 140 140
Takeaway 70 70
Cafes/restaurants 62 62
Newsagent 105 105
Pharmacy 159 159
Post Office 100 100
Total Centre Lettable 1148 132 464 400 1844
Area

 

 

Source: Foresight Partners

The tenancy mix defines the centre’s function within the surrounding network of centres.
As noted in Section 2, the proposed centre’s size is that of a small neighbourhood centre
however the specialised tenancy mix and limited competition within the trade area
differentiates it from the retail offering in the Peregian Village Square.

4.1.2 Market Share Analysis

In forecasting the turnover of the proposed convenience shopping centre the following
assumptions have been made:

 

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