Sunday 9 July 2017

City Of Melbourne Put Up Their Business Case For QVM Renewal

Traders are faced with a bit of reading this week following the publishing of two important documents about QVM - They are the Business Case for renewal, and the QVM Retail Plan.

First is the Business Case for renewal compiled by SGS Economics and Planning. SGS is a leading independent planning and economics firm which describes itself as “A value based independent college of professionals.” SGS has a diverse portfolio of reports including recently assessing rental affordability and the costs of providing last resort housing for the homeless, and examining the performance of individual Australian states.

The Business Case essentially evaluates the options for QVM renewal including doing nothing but essential maintenance, through to a full blown renewal as proposed in the Queen Victoria Market Precinct Renewal Plan. It talks about the ongoing profitability of the market and how different options will impact on the market’s viability.

“Much loved but more a curiosity.”

According to one report in the media, Dr Marcus Spiller, principal at SGS and a long-time shopper at QVM, said there was no doubt the vitality of the market was ebbing away. 
“Total turnover has been more or less static for the last 15 years while the catchment population has more than doubled. In other words the market is less relevant as a shopping option to the community than it was back then. It’s much loved, but more a curiosity than a place to shop.” Dr Spiller said.
You can read the Business Case here – Business Case For QVM Renewal
And save some energy for the very important QVM Retail Plan, covered separately.