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Cleveland CBD Cleveland CBD Commercial Investment Attraction Strategy October 2013 Prepared for: Redland City Council PO Box 21 Cleveland Qld 4163 Source: Cleveland Centre Master Plan, 2010 Table of Contents 1 Executive Summary 2 2 Introduction and Instructions 9 3 Cleveland Centre Master Plan 11 4 Demographic Analysis 13 4.1 Demographic Profile 13 4.2 Demand Assessment 21 5 Residential Market Assessment 24 5.1 Overview 24 5.2 Demand Outlook 28 Supply Overview 32 6 Employment Overview and Occupier Profile 37 6.1 Summary and Implications 39 7 Office Market Assessment 40 7.1 Brisbane Office Markets 40 7.2 Office Supply Overview 41 7.3 Benchmarking and Case Studies 42 7.4 Office Market Performance Indicators 44 7.5 Office Demand Forecasts 45 7.6 Conclusions and Market Opportunities 48 8 Retail Assessment 50 8.1 Existing Cleveland CBD Retail 50 8.2 Existing Competitive Supply 51 8.3 Potential Retail Catchment and Population 52 8.4 Supermarket Assessment 54 8.5 Discount Department Store Assessment 57 8.6 Cinema Assessment 60 8.7 Conclusions and Opportunities 62 9 Other Commercial Uses 63 9.1 Education sector 63 9.2 Leisure and entertainment uses 64 9.3 Health and medical uses 65 9.4 Retirement Living 66 9.5 Visitor Accommodation 68 10 Market Sounding Findings 69 11 Future Economic Role and Function of the CBD 71 12 Investment Attraction Program Case Studies 76 Cleveland CBD: Commercial Investment Attraction Study 12.1 Overview 76 12.2 Summary – What Constitutes Best Practice? 76 13 SWOT Analysis of the Cleveland CBD 81 13.1 Strengths 81 13.2 Opportunities 81 13.3 Weaknesses 81 13.4 Threats 82 14 Overall Competitiveness of the Cleveland CBD 83 15 Cleveland CBD Feasibility Assessment 86 15.1 Overview 86 15.2 Scenarios 1 to 3 – Redland City Council Offices 87 15.3 Scenarios 4 to 5 – High Density Residential Development 91 15.4 Scenarios 6 and 7 – TAFE 93 15.5 Summary and Conclusions 94 16 Key Recommendations to Maximise Competitiveness 96 16.1 Overview 96 17 Appendix 1 - Case Studies 99 17.1 Gold Coast City Council 99 17.2 Ipswich Regional Council 102 17.3 Moreton Bay Regional Council 107 17.4 Sunshine Coast Regional Council 109 17.5 Brisbane City Council 113 Cleveland CBD: List of Tables Table 1: Selected demographic characteristics, Cleveland SLA, Redland City LGA and Greater Brisbane ............. 14 Table 2: Raby Bay Demographic Profile .................................................................................................. 19 Table 3: Cleveland Migration between 2006 and 2011 Census Periods .......................................................... 19 Table 4: Housing Composition – Redland City LGA ................................................................................... 23 Table 5: Residential dwelling stock forecasts - Cleveland ............................................................................ 31 Table 6: Cleveland CBD Employment by Industry, 2011 ............................................................................. 38 Table 7: Place of Work (POW) by SA2 for residents of Cleveland and Redland LGA ......................................... 39 Table 8: Major office markets: Brisbane Metropolitan Area .......................................................................... 41 Table 9: Cleveland CBD Employment by Industry, 2011 ............................................................................. 42 Table 10: Suburban Office Market Benchmarking Summary ........................................................................ 43 Table 11: Key Success Factors, Suburban Office Markets .......................................................................... 44 Table 12: Cleveland CBD, Office Market Forecasts, 2012-2026 ................................................................... 47 Table 13: Office Market and Employment Strategies Opportunities ............................................................... 48 Table 14: Retail Catchment Population Forecast ....................................................................................... 54 Table 15: Catchment Supermarket Spend ............................................................................................... 55 Table 16: Supermarket Opportunity Assessment....................................................................................... 56 Table 17: Catchment Discount Department Store Spend ............................................................................ 57 Table 18: DDS Opportunity Assessment ................................................................................................. 59 Table 19: Cleveland CBD Cinema Potential ............................................................................................. 61 Table 20: Participation in Sport & Physical Recreation, Queensland*............................................................. 65 Table 21: Investment Location Benchmark Summary ................................................................................. 78 Table 22: Strengths and Opportunities, Cleveland CBD .............................................................................. 84 Table 23: Scenario 1 Summary ............................................................................................................. 87 Table 24: Scenario 1A Summary ........................................................................................................... 88 Table 25: Scenario 2 Summary ............................................................................................................. 89 Table 26: Scenario 3 Summary ............................................................................................................. 90 Table 27: Scenario 4 Summary ............................................................................................................. 91 Table 28: Scenario 5 Summary ............................................................................................................. 92 Table 29: Scenario 6 Summary ............................................................................................................. 93 Table 30: Scenario 7 Summary ............................................................................................................. 94 Cleveland CBD: List of Figures Figure 1: Relationship between Commercial Investment Attraction Study and Accommodation Strategy Scope of Services........................................................................................................................................... 10 Figure 2: Artist’s Impression; Bloomfield Street ......................................................................................... 11 Figure 3: Greater Brisbane SA, Redland City LGA and Cleveland SLA .......................................................... 13 Figure 4: Age Distribution .................................................................................................................... 15 Figure 5: Age Distribution by Census Period ............................................................................................ 16 Figure 6: Family Composition ............................................................................................................... 16 Figure 7: Dwelling Type ....................................................................................................................... 17 Figure 8: Personal and Household Income .............................................................................................. 17 Figure 9: Housing Status ..................................................................................................................... 18 Figure 10: Birthplace .......................................................................................................................... 18 Figure 11: Queensland population, composition change (1984-2011) ............................................................ 21 Figure 12: Redland City LGA Population Growth (2002 – 2011) ................................................................... 22 Figure 13: Unit sales, Redland City LGA ................................................................................................. 25 Figure 14: Unit sales, Cleveland SLA ..................................................................................................... 26 Figure 15: House Sales, Redland City LGA ............................................................................................. 27 Figure 16: House Sales, Cleveland SLA .................................................................................................. 28 Figure 17: Redland City LGA population forecasts – Medium Growth Series ................................................... 29 Figure 18: Redland City LGA population forecasts by age ........................................................................... 29 Figure 19 - Cleveland Statistical Local .................................................................................................... 30 Figure 20 – Medium Growth Scenario, Cleveland Dwellings ........................................................................ 32 Figure 21 - High Growth Scenario, Cleveland Dwellings ............................................................................. 32 Figure 22: Cleveland SLA Dwelling Approvals (Dec 02 – Dec 12) ................................................................. 32 Figure 23: Cleveland CBD Travel Zone*, 2011 ......................................................................................... 37 Figure
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