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Aerial view of the Liverpool business district: affluence and population growth are the drivers of an expected boom in retail growth according to a new report. Aerial view of the Liverpool business district: affluence and population growth are the drivers of an expected boom in retail growth according to a new report. Featured
08 September 2012 Posted by 

Liverpool retail boom

By Red Dwyer

RETAIL expenditure in the Liverpool catchment area is estimated to increase by a massive 77 per cent over the next two decades thanks to population growth and increasing affluence.

A Hill PDA report estimated retail spending in the catchment generated around $4.5 billion, in 2011, which is forecast to increase to $8 billion, by 2031.

These figures are contained in the Liverpool Retail Centres Hierarchy Report which was commissioned by Liverpool City Council and released in July.

The report defined the catchment area to include the Liverpool local government area (LGA) as well as Fairfield and the northern parts of Campbelltown LGAs.

Hill PDA said retailing would change in the future, not only due to forecast population growth and increasing affluence, but as a result of residential land release in the South West Growth Centre (SWGC), and the resultant development of Leppington major centre, which would accommodate some 120,000 square metres of retail, commercial and bulky goods floorspace upon completion.

The report said Liverpool, the regional city serving the LGA as well as the broader South West and West Central Subregions, would continue to be the major retail centre

Hill PDA estimated expenditure available to retail land uses within Liverpool LGA was $2 billion, in 2011, increasing by 44 per cent to approximately $3 billion, in 2031.

The report indicated the LGA currently supplied some 377,000 square metres of gross lettable area of shop front retail and commercial floorspace.

Of total floorspace, Liverpool City Centre accounted for over 161,000 square metres  (or 43per cent) of shop front floorspace with the bulky goods clusters at Crossroads, Orange Grove and Warwick Farm accounting for 123,000 square metres (or 33 per cent of floorspace.

“The Liverpool LGA, outside of the SWGC, demanded over 397,500 square metres of retail floorspace, in 2011, which is forecast to increase to 511,000sqm by 2031,“ the report said.

“Comparing supply to demand, Liverpool LGA, excluding the SWGC, is estimated to have had an undersupply of 20,500 square metres of retail floorspace, in 2011.

“This is forecast to increase to an undersupply of some 134,000 square metres, by 2031.

In total, around 120,600 square metres of additional retail space is proposed in Liverpool LGA over the next 30 years.

Around 29 per cent of this, or 35,000 square metres, would be accommodated within Liverpool City Centre with 30,000 square metres of bulky goods floorspace at Crossroads.



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