Business

Centres brace for 10% income slug due to Stockland growth

AN ECONOMIC impact assessment has found the Stockland expansion will damage the bottom lines of other Hervey Bay shopping centres, reducing turnover at the other centres by 10 to 12%.

The assessment also stated that Stockland is expected to capture almost 20% of the area's market share by June 2019.

The information was heard at a meeting of the Fraser Coast Regional Council, but Mayor Gerard O'Connell said he did not expect a larger Stockland complex would impact too much on other centres.

He said the expansion was targeting those who looked outside the area for shopping experiences, with the new centre expected to contain some of the "leakage" as people travelled to Bundaberg, the Sunshine Coast or Brisbane to shop for greater choice and options.

"Stockland identified that leakage and is looking to attract that market," Cr O'Connell said.

With many people heading online to shop, the bigger complex, equipped with a food court and cinemas after stage two is complete, might encourage those people to spend locally instead, Cr O'Connell said.

The report said a reduction in turnover of up to 10% annually had been noted to affect Pialba Place, 12% at Bay Plaza and 10% at Eli Waters Shopping Centre.

The report stated the impact would be moderate if greater than 10% and relatively minor if less than 10%.

The average impact in the local government area was equated at 6.7%.

Stockland Hervey Bay centre manager Paul Kelsey said Hervey Bay had always had a "very fragmented retail offering" and the business would be focused on getting customers to spend and work locally.

"To be successful, retail needs to be fresh, inviting and relevant to customers' needs and we are capitalising on the opportunity we have identified to improve the retail experience in Hervey Bay," Mr Kelsey said.

Sherrie Stone, manager at Pialba Place, said she was not worried about what the competition was doing.

"We focus on what we are doing," she said.

A spokesman for Urangan Plaza declined to comment and Bay Plaza did not respond to a request for a comment.

The report said the impact was to be expected in a dynamic environment.

Topics:  hervey bay, income, shopping centres, stockland hervey bay




Stay Connected

Update your news preferences and get the latest news delivered to your inbox.

'I apologise every day that I am not the person he married'

My battle with postnatal depression...

'My husband lasted 6 weeks as a stay at home dad'

APN Hey Mummy Feature for online - stock images. Katie Dykes being interviewed for the webisodes. Photo Marc Stapelberg / The Northern Star

FROM the outside, being a stay at home mum looks like a breeze.

THE EXPERT: Stop judging working mothers

SUPER MUMS: Being a working mums comes down to perfecting time management.

"WORKING for money is all right; so is working because you want to.”

Health and nutrition with kids - how do you balance it?

HOW important is health and nutrition in your household?

Smack or no smack - where do you stand?

THE debate is reignited - is smacking acceptable?

Technology and kids: Do you ever cut their wi-fi?

Check out our new video series featuring mums having a chat

FIRE TRAGEDY: Funds for Alexis' family at $11,500 and rising

Alexis Dean passed away in hospital in the early hours of this morning.

12-year-old Gympie girl passed away this morning

Meet your federal candidates for Hinkler

News

The federal candidates for Hinkler have their say.

Meet your federal candidates for the Wide Bay

Hinkler election candidates question night at Hervey Bay RSL - Keith Pitt (LNP).

Meet your federal candidates for the seat of Wide Bay.

Latest deals and offers

Hervey Bay Midwifery Group Practise

Hervey Bay Midwifery Group Practise celebrate their second birthday with the...

Wildlife Qld Hervey Bay

Wildlife Queensland Hervey Bay Branch patron Joan Coutts was honoured with a tree...

Hervey Bay Whale Watching 2016

Hervey Bay celebrates its 30th year of whale watching as the 2016 season begins.

Burnett Heads housing development approved

COUNCIL APPROVED: A Burnett Heads housing development has been approved by Bundaberg Regional Council. Photo Contributed

Councillors approved the development seven votes to four

Three bedroom, 1100sqm block: Is this Qld's cheapest home?

BARGAIN BUY: Is this North Bundaberg property the cheapest home in Queensland?

Becoming a real estate mogul is all about risk and reward