Ku-ring-gai Council has a resident population in-excess of 123,000 persons from a diverse range of cultural backgrounds.
Ku-ring-gai Council recently commissioned Location IQ as part of a project team to undertake a review of the existing retail centres within the Ku-ring-gai municipality and provide recommendations on the future opportunity for these centres.
There is a network of 22 existing retail centres throughout the Ku-ring-gai Council, ranging from larger supermarket-based centres to smaller local centres that include a provision of shops and highway-based retail.
Location IQ provided an on the ground survey of each centre, including the number of shopfronts by category and estimated floorspace.
Some demand for retail facilities (in particular for higher order non-retail uses) is escaping the Ku-ring-gai region, particularly to large shopping centres at Chatswood, Macquarie Park, Brookvale and Hornsby. The estimated level of escape retail expenditure is 62%.
The report provided by Location IQ provides conclusions and clear direction in relation to the likely future provision of supportable floorspace by category; the recommendations for each centre; key success and possible risk factors; and the likely change in retail trends and formats over time.
Ku-ring-gai Council will incorporate the findings of the Location IQ study, together with other project partner studies to update the Centres Strategy and to inform the future opportunities for retail and complementary floorspace across the municipality. The insights by Location IQ provide an additional layer of assessment to assist Council in making informed decisions for local residents.