US retail giant Costco will open its second Queensland outlet in Ipswich, west of Brisbane, with 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.
Walker Corp’s Queensland general manager, Peter Saba, said a recent upgrade of the Ipswich Motorway and Legacy Way toll road had “opened up” southeast Queensland to a wider catchment.
“Major logistics groups are locating at Citiswich because of its ability to service a wide area throughout Queensland and northern NSW, as we are close to three highways,” he said.
Lot sizes in the industrial zone range from 2000sq m to 20,000sq m. There will be B-double access direct to the Warrego Highway.
Costco managing director Patrick Noone said it was a continued investment in southeast Queensland, following the opening of its Brisbane northside outlet.
“We have been trading in North Lakes since 2014 with great success and are excited to be bringing Costco to a dynamic, ever-growing region,” he said.
The development application, lodged with the Ipswich City Council, says the site is well-suited to the “unique locational requirements of Costco”, particularly the access to a
large regional population catchment and excellent access to a freeway.
It will service southeast Queensland’s western corridor driven by new development in Springfield and the Ripley Valley.
Costco expects to turn over $170m in its first full year of trading but said it would have only a 1.4 per cent impact on other retail because of the 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 said.
“The retail role of the traditional town centre differs significantly from that of the proposed Costco store.”
Mayor Andrew Antonelli welcomed the imminent arrival of Costco, saying it showed a strong investment in the city’s future growth.
Originally Published: www.theaustralian.com.au