Gregory Hills Corporate Park, Sydney Cinema Environment
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Gregory Hills Corporate Park, Sydney Cinema Environment Prepared for Gregory Hills Corporate Park Pty Ltd May 2017 Gregory Hills Corporate Park, Sydney – Cinema Environment TABLE OF CONTENTS INTRODUCTION ........................................................................................................................... i 1 LOCATION & PROPOSED DEVELOPMENT ........................................................................... 1 2 TRADE AREA ANALYSIS ....................................................................................................... 9 2.1 Trade Area Definition .................................................................................................. 9 2.2 Trade Area Population .............................................................................................. 11 2.3 Socio-economic Profile .............................................................................................. 16 3 COMPETITIVE CINEMA ENVIRONMENT............................................................................ 18 3.1 Current and Future Cinemas ..................................................................................... 18 3.2 Summary ................................................................................................................... 19 3.3 Cinema Provision ....................................................................................................... 20 Table of Contents Gregory Hills Corporate Park, Sydney – Cinema Environment INTRODUCTION This report presents an independent assessment of the demand and market scope for cinema screen(s) as part of the Soma Lifestyle Precinct at the Gregory Hills Corporate Park in south- western Sydney. This report has been prepared in accordance with instructions received from Gregory Hills Corporate Park Pty Ltd and is structured and presented in three (3) sections as follows: • Section 1 reviews the regional and local context of the proposed Soma Lifestyle Precinct at the Gregory Hills Corporate Park, including an overview of the planned composition. • Section 2 details the trade area likely to be served by a cinema offer at Gregory Hills. Current and projected population and cinema expenditure figures are provided over the period to 2031. • Section 3 summarises the competitive environment within which the proposed cinema offer would operate and the current provision of cinemas per persons. i Introduction Gregory Hills Corporate Park, Sydney – Cinema Environment 1 LOCATION & PROPOSED DEVELOPMENT i. Gregory Hills Corporate Park is situated within the developing suburb of Gregory Hills, some 45 km to the south-west of the Sydney Central Business District (CBD) and 6 km to the north of the Campbelltown City Centre (refer Map 1.1). The development is provided along Camden Valley Way and forms part of the South West Priority Growth Area. ii. The South West Priority Growth Area comprises 18 precincts and is expected to accommodate 110,000 new dwellings, or some 350,000 persons, once fully developed over a 30 year time period. iii. Gregory Hills Corporate Park is situated adjacent to the Camden Valley Way, the major arterial road throughout the South West Priority Growth Area, connecting Camden in the south to Edmondson Park in the north, stretching in excess of 21 km. Ultimately, the Camden Valley Way links to the Hume Highway and M5 and M7 Motorways and as such is a crucial road network connecting South West Sydney to the broader Sydney region. iv. The New South Wales Government has recently completed (2015) a $280 million upgrade to the Camden Valley Way that has increased capacity from two lanes to four lanes, improved access to the M5 and M7 Motorways and created new bus priority lanes. v. According to the Roads and Maritime Service (RMS) NSW, the average daily traffic volume in 2017 along the Camden Valley Way, at the junction of the Gregory Hills site, was 31,943, equating to an annual volume of approximately 11.7 million vehicles. As such, this stretch of the Camden Valley Way is one of the busiest in terms of traffic volume in South West Sydney. vi. Gregory Hills Corporate Park is situated within a rapidly developing commercial, retail and community precinct within Gregory Hills (refer Map 1.2). In particular, uses around the site include: 1 Location & Proposed Development Gregory Hills Corporate Park, Sydney – Cinema Environment — A large provision of commercial uses, including Clintons Toyota, GMIL Logistics warehouse and a range of smaller commercial tenancies. — Home Centre Gregory Hills, a large format retail centre of nearly 30,000 sq.m was previously anchored by a Masters Hardware store before its closure (December 2016). Other tenants at the site include Total Tools and Service NSW. — Community and entertainment uses, such as Exceed Childcare and Swim School, Jump Zone Revolution and Gregory Hills Hotel. vii. Overall, Gregory Hills Corporate Park encompasses in excess of 150,000 sq.m and several uses, including large format retail, a private hospital, hotel, medical centre, commercial and leisure floorspace. Key components currently trading at the site, comprising several national, destinational tenants, include Officeworks, Sydney Tools, Autobarn, Caltex and Jetts Fitness. viii. Information provided by Gregory Hills Development Company states that a State Significant Development Application (DA) has been approved for an integrated and extensive medical precinct. This includes the largest private hospital in Sydney, with a capacity of 473 beds, as well as a DA for a specialist medical centre within a 40 bed private children’s hospital. An integrated primary health facility at the western end of the SOMA Lifestyle Precinct has already received pre-commitments from a range of medical providers. ix. As part of the ongoing development at Gregory Hills Corporate Park, a Lifestyle Precinct, referred to as SOMA, is now proposed at the site. In excess of 25,000 sq.m of floorspace (refer Table 1.1 and Figures 1.1 – 1.3) is proposed at the SOMA Lifestyle Precinct across a range of uses, with nearly half of the total floorspace comprising bulky goods/large format retail (47.9%). x. The cinema of 3,947 sq.m is located on the First and Second Floor of the SOMA Lifestyle Precinct at Gregory Hills Corporate Park. Convenient travelator access is provided between the basement car park and the Ground Floor as well as between the Ground Floor and the First Floor. 2 Location & Proposed Development Gregory Hills Corporate Park, Sydney – Cinema Environment xi. A leisure and entertainment precinct totalling 2,145 sq.m is also proposed. This is proposed to include three – four destinational uses such as rock climbing and trampolining. xii. Entertainment and food catering uses are considered essential complementary services with a cinema offer as it provides additional uses for customers to spend additional time at the centre with positive spillover benefits and increased foot traffic to tenants at the site. xiii. There are vehicular access points to the SOMA Lifestyle Precinct component of the site, including left hand turn-in access via Gregory Hills Drive, the main road past the site, as well as along Digitaria Drive to the north of the site. xiv. Car parking is proposed at-grade and through basement level, with a total of 853 car spaces planned. TABLE 1.1 – SOMA LIFESTYLE PRECINCT FLOORSPACE, GREGORY HILLS CORPORATE PARK Tenancy GLA Type (sq.m) Percentage SOMA Lifestyle Precinct Cinema 3,947 9.6% Bulky Goods/Large Format Retail 19,734 47.9% Business Premises 9,175 22.3% Food and Drink Premises 454 1.1% Hotel 5,427 13.2% Leisure* 2,440 5.9% Total Other Uses 41,177 100% *Reducing the cinema use which is recorded individually 3 Location & Proposed Development Gregory Hills Corporate Park, Sydney – Cinema Environment MAP 1.1 – GREGORY HILLS CORPORATE PARK REGIONAL CONTEXT 4 Location & Proposed Development Gregory Hills Corporate Park, Sydney – Cinema Environment MAP 1.2 – GREGORY HILLS CORPORATE PARK LOCAL CONTEXT 5 Location & Proposed Development Gregory Hills Corporate Park, Sydney – Cinema Environment FIGURE 1.1 – SOMA LIFESTYLE PRECINCT - GREGORY HILLS CORPORATE PARK, GROUND FLOOR PLAN 6 Location & Proposed Development Gregory Hills Corporate Park, Sydney – Cinema Environment FIGURE 1.2 – SOMA LIFESTYLE PRECINCT - GREGORY HILLS CORPORATE PARK, FIRST LEVEL FLOOR PLAN 7 Location & Proposed Development Gregory Hills Corporate Park, Sydney – Cinema Environment FIGURE 1.3 – SOMA LIFESTYLE PRECINCT - GREGORY HILLS CORPORATE PARK, SECOND LEVEL FLOOR PLAN 8 Location & Proposed Development Gregory Hills Corporate Park, Sydney – Cinema Environment 2 TRADE AREA ANALYSIS This section of the report outlines the trade area likely to be served by a planned cinema offer at Gregory Hills Corporate Park, including current and projected population and cinema expenditure levels. A review of the socio-economic profile of the population is also provided. 2.1 Trade Area Definition i. The trade area likely to be served by a planned cinema offer at Gregory Hills Corporate Park has been defined taking into consideration the following: - The pattern of urban development within the South West Priority Growth Area and the surrounding Gregory Hills Corporate Park. - The provision of existing cinema facilities throughout the region. - Regional and local accessibility. ii. Map 2.1 illustrates the defined trade area that is likely to be served by a cinema offer at the Gregory Hills Corporate Park site, with the Campbelltown, Camden and Wollondilly LGA’s defined as