Wagga Wagga Retail Growth Strategy 2010 - 2025

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The purpose of the Strategy is to provide Wagga Wagga City Council with a comprehensive analysis of its existing retail hierarchy and to provide recommendations to inform Council on future decisions on how to facilitate the growth of Wagga Wagga‟s retail sector in a sustainable manner and which provides the greatest economic, social and environmental benefit to Council, to the Wagga Wagga retail sector and to the greater Wagga Wagga community.

Transcript of Wagga Wagga Retail Growth Strategy 2010 - 2025

  • Prepared by AEC group

    Wagga Wagga Retail Growth Strategy2010 - 2025

    Draft - June 2010

    Wagga Wagga City Council

  • Wagga Wagga Retail Growth Strategy 2010-2025 Draft

    i

    Table of Contents

    TABLE OF CONTENTS........................................................................................... I

    EXECUTIVE SUMMARY ......................................................................................... V

    1. INTRODUCTION .......................................................................................... 1

    1.1 PROJECT BACKGROUND ....................................................................................... 1

    1.2 PURPOSE OF THE STUDY ...................................................................................... 1

    2. LOCAL AND REGIONAL PLANNING CONTEXT ............................................... 2

    2.1 RETAIL AND COMMERCIAL DEVELOPMENT STRATEGY 2007 .............................................. 2

    2.2 WAGGA WAGGA SPATIAL PLAN 2008 ...................................................................... 2

    2.3 WAGGA WAGGA DRAFT LOCAL ENVIRONMENT PLAN 2010 ............................................... 2

    2.4 WAGGA WAGGA DRAFT DEVELOPMENT CONTROL PLAN 2010 ........................................... 3

    3. CONSULTATION PROCESS ........................................................................... 6

    4. WAGGA WAGGA RETAIL SECTOR ................................................................. 8

    4.1 CONTRIBUTION TO ECONOMY ................................................................................ 8

    4.1.1 EMPLOYMENT ......................................................................................... 8

    4.1.2 GRP .................................................................................................. 8

    4.2 RETAIL HIERARCHY ............................................................................................ 9

    4.2.1 TENANCY MIX ...................................................................................... 12

    4.2.2 BUSINESS CHARACTERISTICS .................................................................... 12

    4.2.3 RECENT BUSINESS PERFORMANCE ............................................................... 13

    4.3 BUSINESS SATISFACTION & CONFIDENCE ................................................................ 13

    4.3.1 RATING AS A PLACE TO DO BUSINESS ........................................................... 13

    4.3.2 PROPOSED EXPANSION OF BUSINESS ........................................................... 13

    4.3.3 ANTICIPATED BUSINESS PERFORMANCE......................................................... 14

    5. TRADE AREA ANALYSIS ............................................................................. 15

    5.1 TRADE AREA DEFINITION ................................................................................... 15

    5.2 POPULATION .................................................................................................. 18

    5.3 DEMOGRAPHIC CHARACTERISTICS ......................................................................... 19

    5.4 PROJECTED POPULATION GROWTH......................................................................... 19

    6. RETAIL MARKET ASSESSMENT .................................................................. 21

    6.1 SUPPLY ASSESSMENT ....................................................................................... 21

    6.1.1 TRADITIONAL RETAILING ......................................................................... 21

    6.1.2 BULKY GOODS ..................................................................................... 21

    6.2 COMPETING CENTRES ....................................................................................... 22

    6.3 INDUSTRY TRENDS .......................................................................................... 23

    6.3.1 SALES AND SPENDING ............................................................................ 23

    6.3.2 BUSINESS AND RETAILING ....................................................................... 25

    6.3.3 CONSUMERS AND SHOPPING ..................................................................... 25

    6.3.4 PLANNING AND CENTRES ......................................................................... 25

    6.4 SWOT ANALYSIS ........................................................................................... 26

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    6.5 DEMAND ASSESSMENT ...................................................................................... 27

    6.5.1 HOUSEHOLD EXPENDITURE ....................................................................... 27

    6.5.2 MARKET SHARE AND LEAKAGE ................................................................... 28

    6.5.3 ROGUE EXPENDITURE ............................................................................. 28

    6.5.4 RETAIL EXPENDITURE IN WAGGA WAGGA ...................................................... 29

    6.5.5 FLOORSPACE DEMAND ............................................................................ 29

    6.6 GROWTH POTENTIAL ........................................................................................ 30

    6.6.1 GROWTH SIGNALS & DETERMINANTS ........................................................... 30

    6.6.2 STRATEGIC POSITION & COMPETITIVENESS .................................................... 31

    6.6.3 PROJECTED FLOORSPACE DEMAND .............................................................. 32

    6.7 OPPORTUNITIES .............................................................................................. 32

    6.7.1 MYER CARPARK .................................................................................... 33

    6.7.2 FORUM 6 CINEMA/SAMS WAREHOUSE & CARPARK ........................................... 33

    6.7.3 PROFESSIONAL DEVELOPMENT ................................................................... 33

    7. COMMERCIAL OFFICE ASSESSMENT .......................................................... 35

    7.1 SUPPLY ASSESSMENT ....................................................................................... 35

    7.1.1 TENANCY MIX ...................................................................................... 35

    7.2 COMPETING CENTRES ....................................................................................... 36

    7.3 INDUSTRY TRENDS .......................................................................................... 37

    7.3.1 EMERGENCE OF BUSINESS PARKS ............................................................... 37

    7.3.2 HOME-BASED OFFICE TRENDS................................................................... 37

    7.3.3 GREEN OFFICE BUILDINGS ....................................................................... 37

    7.3.4 WORKSPACE RATIOS .............................................................................. 37

    7.3.5 INCREASING TECHNOLOGY ....................................................................... 38

    7.3.6 LOCATIONAL CRITERIA FOR OFFICE TENANTS .................................................. 38

    7.4 GROWTH POTENTIAL ........................................................................................ 38

    7.4.1 GROWTH SIGNALS & DETERMINANTS ........................................................... 38

    7.4.2 STRATEGIC POSITION & COMPETITIVENESS .................................................... 39

    7.4.3 PROJECTED FLOORSPACE DEMAND .............................................................. 39

    7.5 OPPORTUNITIES .............................................................................................. 39

    7.5.1 MYER CARPARK .................................................................................... 40

    7.5.2 FITZMAURICE PRECINCT WOOLWORTH CARPARK .............................................. 40

    8. RETAIL STRATEGY ..................................................................................... 41

    8.1 AIMS AND OBJECTIVES ...................................................................................... 41

    8.2 CENTRES HIERARCHY ....................................................................................... 42

    8.3 VISION ........................................................................................................ 44

    8.4 STRATEGY OVERVIEW ....................................................................................... 44

    8.4.1 PLANNING .......................................................................................... 44

    8.4.2 DEVELOPMENT AND INVESTMENT IN SPECIFIC RETAIL CENTRES ............................. 46

    8.4.3 MARKETING STRATEGY TO FACILITATE INCREASED INVESTMENT ............................. 49

    8.4.4 PLACEMAKING ...................................................................................... 51

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    9. ACTION PLAN ............................................................................................ 53

    9.1 SHORT TERM ACTIONS ...................................................................................... 53

    9.2 MEDIUM TERM ACTION...................................................................................... 56

    9.3 LONG TERM ACTIONS ....................................................................................... 58

    10. PERFORMANCE MEASUREMENT AND MONITORING MECHANISMS ............. 61