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Newark & Sherwood Local Development Framework Plan Review - Preferred Approach Town Centre & Retail

Forecast Retail Capacity

1.6 The assessment of the need (or 'capacity') for new retail (convenience and comparison goods) floorspace has been carried out at the District-wide level to help inform the likely scale, type, location and phasing of new retail development over the short (0-5 years), medium (6-10 years) and long term (11-15 years). With the methodology followed taking account of population growth, the proposed quantum and distribution of development over the plan period, market share analysis to informing the assessment of the current turnover and trading performance of existing centres, shops and stores, committed and allocated floorspace, average convenience and comparison retail expenditure per zone, annual expenditure growth forecasts, the survey-derived market shares for Special Forms of Trading (i.e. 'non-store' retail sales, including internet sales) and an allowance for the increased annual 'productivity' growth in the retail sales densities of existing and committed retail floorspace.

1.7 It is however important to note that long-term capacity forecasts should necessarily be treated with caution, as they will be influenced by changes in economic, demographic and market trends.