Queanbeyan CBD and the Retail Growth Strategy
Total Page:16
File Type:pdf, Size:1020Kb
Queanbeyan-Palerang Regional Council Retail Growth Strategy Premier Retail Marketing & Foresight Partners Page 2 Queanbeyan-Palerang Regional Council Retail Growth Strategy Contents 1. Vision and Key Objectives .................................................................................. 5 Vision ......................................................................................................................................5 Key Objectives .......................................................................................................................5 2. Key recommendations ........................................................................................ 6 3. Executive Summary ............................................................................................ 7 4. Project Tasks and Process ............................................................................... 11 The Task ............................................................................................................................. 11 The Process ........................................................................................................................ 11 Methodology ........................................................................................................................ 12 Factors evident in successful mainstreets and city centres: ............................................... 12 5. Project Area Map ............................................................................................... 13 6. Situation Analysis ............................................................................................. 13 Retail Trade Areas - characteristics .................................................................................... 14 Retail Trade Areas - current and forecast population ......................................................... 14 Retail Trade Areas - current and forecast retail expenditure .............................................. 16 Expenditure Benchmark Comparison ................................................................................. 17 Residents, Workforce and Visitor Spend and Forecast ...................................................... 17 Retail Trade Area – household expenditure leakage .......................................................... 21 7. Demographic Information ................................................................................. 25 8. Tenancy Mix Analysis ....................................................................................... 27 Gaps and opportunities ....................................................................................................... 28 9. Retail Core Map, Retail Components, Street Hierarchy, Car Parking ............ 29 Retail Core .......................................................................................................................... 29 Retail Components .............................................................................................................. 30 Street Hierarchy and Car Parking ....................................................................................... 31 10. SWOT Analysis & Market Position ................................................................. 35 11. City Centre Key Issues .................................................................................... 36 12. Competitor Summary ...................................................................................... 37 13. Retail Success Factors and Best Practices ................................................... 39 13.1 Professional management .......................................................................................... 39 13.2 Funding to promote and improve the City centre ........................................................ 40 13.3 Identity, character and clear points of difference ........................................................ 41 13.4 Orientation, wayfinding and pedestrian circulation ..................................................... 42 13.5 Clear sightlines and vistas .......................................................................................... 42 13.6 High quality urban design and attractive building presentation .................................. 43 13.7 Attractive, vibrant corner stores along mainstreets ..................................................... 45 13.8 A balanced mix of shops, businesses and customer facilities .................................... 46 13.9 Attractors, anchors and destination stores in key locations ........................................ 47 13.10 Clusters of retail stores to create precincts and interesting mainstreets .................. 48 13.11 Attractive, vibrant and active shopfronts and outdoor dining areas .......................... 49 13.12 Access by all forms of transport ................................................................................ 50 13.13 Adequate well managed car parking for customers and staff ................................... 51 13.14 Collective marketing to lift the profile of the City Centre ........................................... 52 13.15 Activation and events to attract customers ............................................................... 54 13.16 A clean and safe environment to improve the customer experience ........................ 55 13.17 Consistent trading hours ........................................................................................... 56 13.18 Potential markets to increase market share.............................................................. 57 14. Retail Development Opportunities, Trade Area Potential, Retail Category Growth .......................................................................................................................... 59 Trade Area Potential ........................................................................................................... 59 Development Potential by Retail Category ......................................................................... 61 Retail Development Opportunities for Retail Sub-Categories ............................................. 63 15. Retail Trends and Challenges......................................................................... 69 16. Customer and Business Survey Results ....................................................... 70 Premier Retail Marketing & Foresight Partners Page 3 Queanbeyan-Palerang Regional Council Retail Growth Strategy 17. Learnings from mainstreets and City centres worldwide ............................. 74 Streetscape and building façade presentation impact on the customer experience .......... 79 Public and private investment in visible physical features .................................................. 79 Trading hours – core hours and extended hours ................................................................ 80 18. Links to the Spatial Business Plan, Integrated Transport Plan and Car Parking Strategy .................................................................................................................. 81 Incentives to encourage growth .......................................................................................... 82 Improvements that encourage Placemaking and ‘sense of place’ ...................................... 82 Strategies to support customer parking .............................................................................. 84 Pedestrian flow and links .................................................................................................... 84 Impact on inner city living .................................................................................................... 84 19. Leasing Opportunities and Strategies ........................................................... 85 Incentives ............................................................................................................................ 88 ACTION PLAN ........................................................................................................ 89 20. Key recommendations and actions................................................................ 90 Business Mix Development ................................................................................................. 90 Placemaking ........................................................................................................................ 92 Identity, Marketing and Communications ............................................................................ 93 Engage Businesses and Property Owners ......................................................................... 93 21. Measuring Success ......................................................................................... 97 22. Attachments ..................................................................................................... 98 Shopper Survey .................................................................................................................. 99 Business Survey ............................................................................................................... 100 Street business listing ....................................................................................................... 101 DISCLAIMER – this report has been prepared by Premier Retail Marketing and Foresight Partners for the use of Queanbeyan- Palerang Regional Council only. The authors are not responsible for other third parties acting on part or