Costco has been given the green light by the Queensland government to go ahead with its multi-million dollar plan to develop a store at North Lakes.

The Costco site is within the North Lakes Employment Opportunity Area and the North Lakes Regional Activity Centre, as identified under the South East Queensland Regional Plan. The Warehouse will be collocated with what is currently Australia's largest Bunnings Warehouse at more than 19,000sqm of gross floor area.

Deputy Premier and Minister for State Development, Infrastructure and Planning Jeff Seeney said he has taken great care in arriving at the decision under the Sustainable Planning Act 2009.

“I did not rush this decision, and I took the time necessary to make sure I was making the right decision for the community and the state,” he said.
Seeney believes the Costco development will help strengthen the Queensland economy, with expectations the project will create 160 construction jobs and 350 retail positions.

“The development will provide new business opportunities in the north Brisbane-Moreton Bay regions and contribute to growing and stimulating the construction industry,” he said.

“The application was previously approved by the Moreton Bay Regional Council, but was appealed by objectors in the Planning and Environment Court.
“I formed the view that this development contributes to the future economic well-being of Queensland, in particular the fast growing south-east region.
“We need to ensure that applications such as this do not get bogged down in protracted legal proceedings.”

Stockland has welcomed the news with belief the development is good news for residents and small retailers.

“We expect the new Costco Warehouse to quickly become a landmark retail asset, and a welcome addition to the North Lakes community. A great many residents will be very pleased with this announcement,” Kingsley Andrew, Queensland general manager, residential development at Stockland, said.