Changes to Report to incorporate Attachment H · MCU13/0092

Foresight

partnersene

SUMMARY

Foresight Partners was commissioned to prepare an economic impact and needs
assessment for a proposed neighbourhood centre on Rufous Street, Peregian Beach.

The proposed centre’s gross lettable area is 1,844m? (1,900m? gross floor area)
comprising an 1,100m? IGA supermarket and eight specialty shops. It is intended to serve
local residents, the workforce in the vicinity of the site and visitors in Peregian Beach,
Marcus Beach and Castaways Beach.

Retail Network

Peregian Beach provides the local shopping functions for Peregian Beach, Marcus Beach
and Castaways Beach.

It has approximately 100 retail and commercial premises, mainly located in and near the
village square. The town’s principal food and grocery store is a Friendly Grocer of
approximately 250m? located on Heron Street in Peregian Village Square. This store will
be closing down due to redevelopment likely leaving only one small food/grocery store
(approximately 150m?) in Peregian Beach which is expected to be part of the approved
Essence Development on David Low Way. A food store of this size offers only a small
product range generally limited to confectionary, drinks and a small variety of convenience
food. Without a local supermarket residents of Peregian Beach must travel outside their
community for basic food and grocery needs. The nearest full line supermarket is at
Peregian Springs, some 4.3 km from the subject site.

Our assessments of the Village Square over the past several years indicate that it has
performed well, with few vacancies evident. Discussions with local agents reveal that the
tetail tenancies within Peregian Beach are tightly held and there is strong demand for
retail space. The lack of supermarkets indicates a clear void in the existing retail provision.
However, there are no suitably zoned sites of sufficient size in Peregian Beach to
accommodate a supermarket.

As well as local convenience shopping, business and community services the Peregian
Beach Village Square provides a central hub for visitor and local community interaction,
activity and entertainment.

Market Fundamentals

The proposed centre will have a convenience shopping and services focus and will
complement the established retail network in the Village Centre.

The forecast main trade area encompasses Peregian Beach, Marcus Beach and extends
north to Castaways Beach. The trade area had a usual resident population of about 4,407
people residing in 1,706 private dwellings as at the 2011 Census. Growth in the trade area
region is expected to be minimal, due to constraints in availability of vacant residential
land, and the limited scope to develop residential areas to a higher density. Over the

 

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