Costco reveals location of 10th Australian store
US retail giant Costco will open its second Queensland outlet west of Brisbane on a 6.5ha site in Walker Corp’s $1 billion Citiswich development.
The shopping warehouse, which will be the retailer’s 10th in Australia, is expected to open next year in the Bundamba complex following a $50 million construction.
It is proposing a 13,760sq m shop and service station with 825 car spaces.
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The development application, lodged with the Ipswich City Council, notes the site is well-suited to the “unique locational requirements of Costco”, particularly the access to a large regional catchment and freeway access.
It will service southeast Queensland’s western corridor driven by new developments in the masterplanned zones of Springfield and the Ripley Valley.
It expects to turn over $170 million in its first full year of trading but said it would have only a 1.4% impact on other retail because of its large catchment.
“In respect to the Ipswich CBD, the proposed Costco Ipswich store will have a low trading impact which is primarily directed to the highly successful Riverlink Shopping Centre,” the economic analysis says.
Walker Corp’s Queensland general manager Peter Saba says the industrial hub has direct B-double access to the Warrego High and major arterials.
Costco managing director Patrick Noone says it is a continued investment in southeast Queensland, following the opening of their North Lakes store in 2014.
Internationally, there are about 90 million members of Costco.
This article originally appeared on www.theaustralian.com.au/property.
