Background_E_Market_Assessment - Shoalhaven City Council ...

Nowra CBD Master Plan – Market AssessmentABBREVIATIONSThe following abbreviations may be found in this report:ABS Australian Bureau of StatisticsANZIC Australia and New Zealand Industry CodeCBD Central Business DistrictDDS Discount Department StoreGLA Gross Lettable AreaGST Goods & Services TaxHES Household Expenditure SurveyIRIS Illawarra Regional Information ServiceLEP Local Environmental PlanLGA Local Government AreaPCA Property Council of AustraliaSOHO Small Office Home OfficeSD Statistical DivisionGLOSSARY OF TERMSNet Selling Area: Net Selling Area (NSA) is defined as that area involved in the selling process comprising all areas thatcustomers can go to, plus display cases, display areas and spaces around checkout counters. It excludes the back ofhouse area, which is generally “out of bounds” for customers. To the best of our knowledge IBECON (which has nowceased trading) was the only retail economics consultancy that used NSA in its assessments.Gross Leasable Area: Gross Leasable Area or Gross Lettable Area (GLA) is the common measure used for lease andfor other descriptive purposes in retail centres and shops. It is usually defined as the total area of the lease and includesback of house, storage, offices and mezzanine levels but usually excludes loading docks and common mall spaces. GLAis more commonly used in the industry because it defines the area of the lease. Shopping centre owners report rentsand turnover figures on the leased area and benchmarking is usually made on the GLA. For the purpose of Hill PDA’sdemand modelling all floor areas expressed are in GLA.Gross Floor Area: Gross Floor Area is Gross Leasable Area plus common mall spaces (including amenities), centremanagement area and plant rooms. In a typical indoor centre with at least one department store and supermarket theGLA makes up around 72% to 75% of the GFA.Retail Space or Retail Floorspace: For the purpose of the demand modelling Hill PDA have defined retail space asGLA used primarily for the selling of goods and certain services. Therefore, Hill PDA classifies retail space into thefollowing types:• Supermarkets and grocery stores;• Specialty food stores such as bakeries, confectionary stores, tobacconists, butchers, seafood, liquor (takeaway),etc;• Take-away food stores;• Cafes and restaurants;• Department stores;• Bulky goods stores (includes “Fabric and Soft Goods Stores, Furniture and Floor Coverings Retailers,Domestic Hardware and Houseware Retailing and Electrical Appliances Stores” as defined under ANZIC);• Specialty non-food stores; and• Selected Personal Services (defined under ANZIC to include hair and beauty, laundry, clothing hire andalterations, shoe repair, optical dispensing, photo processing and hire of videos)C09143 Page 6 Hill PDA