When it comes to planning new retail outlets, it’s all about location. Where are the developing or developed locations and how do you find them? How can you be sure that the property you’re researching is accurately represented geographically and statistically?
Once you do find a location, you need to see everything that’s going on around that location: geographical size of the town or city, population, land conditions, environmental changes, and any other businesses that reside in the area. Once a property looks promising, you need access to data that includes current estimated value, building compliances, street access, parking, and whether the location is zoned for residential or commercial uses.
The question is, how do you access the most up-to-date, relevant information that will enable you to identify the appropriate location for your retail planning strategy?
Most likely you start with maps - probably Google maps - and then turn to Census data to access all the latest information. The problem is, both are out of date.
The last census data report by the Australian Bureau of Statistics was released in 2011. Since they’re on a five-year cycle, the next Census will be released in late 2016.
The following images show Jordan Springs at the time of the last Census in 2011 and a comparative image taken in 2015.
Find out more about how you can launch a retail property search with confidence by using intuitive technology by downloading the full version of this retail planning whitepaper.