In early March, the NSW Premier, Gladys Berejiklian, gave Costco the green light to build its biggest distribution facility to date in Australia, making it the largest of its kind in the country.
Costco, the US retail giant, is investing heavily in its ambitious 10-year growth strategy and first entered the Australian market in 2009, after purchasing a parcel of land in Oakdale South Industrial Estate, from joint owners Goodman and Brickworks through its joint venture Trust.
The wider Oakdale estate – including Oakdale Central, South and West – covers more than 300 hectares of prime industrial land.
The sale of a total of 28 hectares of land at Oakdale South to Costco, Toyota and Sigma Pharmaceuticals, is exciting news for Brickworks which will benefit from the $100 million in cash receipts to the JV Trust due on settlement of the sales in mid 2018. The remaining 43 hectares at Oakdale South will also benefit from the strategic development in the area around Sydney’s second airport at nearby Badgerys Creek. In fact, Costco’s 14-hectare depot, along with many other commercial developments, will form a part of what will become a fully integrated economic precinct – situated close to key motorways and making it a jobs hub for Western Sydney.
Needless to say, there will be considerable employment opportunities as well as take up by large retailers keen to establish their presence in Sydney’s growing outer west.
Images - Oakdale NSW Site
First sods turned at new Costco site