After much rumour, a deal was signed for the second Costco store in Queensland. For years, many have speculated that Costco would take over the parcel of land where Masters, the failed hardware store, once stood. But now it’s been confirmed to the Queensland Times by a Costco staffer that the retail giant is working to finalise construction plans and lodge a development application. Until the application has been lodged, Costco is expected to remain tight-lipped on its plans for the Bundamba store. The Costco spokesman stated that they were “very interested in a site in Ipswich because it would capture the whole western area of Brisbane”.
Ipswich residents can look forward to the “Costco effect” as proven at North Lakes when the mega-retail giant opened. Not only are groceries cheap, but petrol prices at surrounding service stations at North Lakes were forced to drop to compete. “When prices started going up, people living near the Costco didn’t feel that pinch because everyone in the area still had to compete with Costco’s prices,” said RACQ’s Renee Smith. So even if you’re not a Costco member, you will still benefit.