Costco’s Aussie push is contuing fast.
Costco’s Australian expansion has taken its next step with confirmation the US retailer will open its next site at Brisbane Airport.
Slated for a 2029 open date, the airport site will cover a 6.7ha parcel of land incorporating 15,600 sqm of warehouse space as well as a petrol station.
It will be Costco’s first location in Brisbane and the fourth store in Queensland, with the new site to include 870 parking spaces and 250 full-time staff when complete.
The latest Costco project is part of a larger development taking place at Brisbane Airport on a 51ha space opposite the international terminal.
Costco country manager for Australia and New Zealand Chris Tingman said the new Brisbane Airport warehouse represented a $145 million investment in the area.
“It is great news for our members across Brisbane. This is a dynamic and fast-growing region, and we look forward to bringing even greater value to members through our wide range of products and services,” Mr Tingman said.
MORE: Costco takeover: Aus set for 20 new stores
It isn’t much to look at yet but the new Brisbane Airport Costco will be huge. Picture: Brisbane Airport
MORE: Portelli’s newest business to take on Costco
“Costco provides its members with exclusive access to quality brand-name merchandise at lower prices than typically found at conventional wholesale or retail stores.”
Brisbane Airport boss Gert-Jan de Graaff said Costco would be a popular drawcard for the new precinct.
“Costco’s commitment marks the beginning of a new chapter for Brisbane Airport and is the first of many announcements to come as we bring to life a new mixed-use precinct for the city,” he said.
“Costco is just the beginning. Even a retailer of this scale will occupy only 12 per cent of this huge development site, leaving significant opportunities for other businesses to establish themselves alongside one of the world’s most recognised retail brands.”
The Brisbane project continues the US chain’s aggressive push into Australia which will see it expanding its wholesale supermarket footprint rapidly in coming years.
Costco currently has 15 stores operating across Australia but recently revealed its plans to open an additional 20 in the next five years.
Two new warehouses will open next year in Victoria and Western Australia, with a focused search underway for additional sites in North and South Sydney, Perth, and Adelaide.
Significantly, Costco is also planning its inaugural stores in Tasmania and Geelong, marking a strategic push into new markets.
MORE:Costco launches shock new Aus franchise
Brisbane Airport is getting its Costco by 2029. Picture: Annette Dew
This accelerated expansion is driven by strong financial performance, with Costco’s $0.5 billion profit last financial year surpassing Aldi’s $499.2 million.
The recently opened Ardeer store in Melbourne, which replaced the Docklands location, features Australia’s largest Costco fuel station with 38 pumps, further cementing the retailer’s focus on providing value to its members.
The new Brisbane site will go one better with a 39-pump petrol station.
Patrick Noone, Costco Warehouse Australia managing director, confirmed the retailer’s goal to expand business across multiple locations.
He identified several “hotspot” locations where the company is actively seeking suitable sites, including Hobart, North and South Sydney, North Perth, South Adelaide, and Geelong.
“Those are kind of the hotspots that we’re trawling through all the time looking for good sites,” Mr Noone told realcommercial.com.au.
Mr Noone emphasised the significant opportunity in Sydney, where only three Costcos currently serve a population of approximately six million.