Changes to Report to incorporate Attachment H · MCU13/0092

Foresight

partnerse st:

It is notable that of the centre’s forecast $12.6 million in year one turnover, more than
$10.5 million (85%) is expected to be recapture of spending currently escaping from
Peregian Beach. Thus, the proposal is expected to result in a net increase of over $10
million in annual turnover by Peregian Beach retailers.

4.2.2 Amelioration of Impacts and implications

Growth in retail spending generated by household formation and population growth
normally assists in partly or fully ameliorating impacts of a new centre upon the retail
network within a period of time (usually one to three years). Little net population growth is
expected within the trade area over the forecast period to 2021, although a change in the
mix of housing will contribute to a change in resident lifestyles and retail needs favourable
to the proposed centre over time.

The proposed shopping centre is expected to improve the availability, choice and
accessibility for a small local centre specialising in convenience retailing and personal
services, in an area which is poorly served by supermarket facilities. It will fill a ‘void’ in
the Peregian Beach and surrounding area, rather than rely on future population growth for
its market.

The western portion of Peregian Beach along with Peregian Springs is anticipated to
accommodate significant future growth. While the proposed IGA anchored centre will
redirect some spending from the Peregian Springs Shopping Centre the future population
growth and associated increase in available retail spend is forecast to ameliorate these
impacts in subsequent years.

While most of the impacts will come from outside of Peregian Beach there will inevitably
be some initial impacts on individual stores within the Village Square. Overall there will be
a net benefit to the retail environment in Peregian Beach from the addition of the proposed
centre as it will recapture substantial retail spending that is currently diverted to retail
centres outside the area.

For the reasons outlined above and in Section 4.1.3, it is concluded that the proposed
centre is unlikely to adversely affect the vitality and viability of any centre within or near
the trade area, and nor will it threaten or lessen their current functional roles and levels of
services they currently provide to the community.

4.3. Community Need and Demand

The establishment of a small neighbourhood centre with a supermarket will fill a
substantial market void in the Peregian Beach area. With the imminent closure of the
Friendly Grocer, Peregian Beach residents will have no local food and grocery store other
than a convenience store and a limited number of specialty food shops. Due to the lack of
a local supermarket, it is estimated that up to 90% of food spending by local residents will
be in stores outside of Peregian Beach following the closure of the Friendly Grocer.

 

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