NO COSTCO FOR YOU: SEQ site won't be home to major retailer

6th December 2017 11:13 AM
QIC site near the Hyperdome where land has been cleared for a new business. QIC site near the Hyperdome where land has been cleared for a new business.

AFTER more than 10 years of speculation, the US retail discount chain Costco has ruled out opening its doors in Loganholme at a site owned by the Hyperdome.

Queensland Investment Corporation, which owns the Hyperdome, said it was no longer in commercial discussions with Costco to move to a site at the Hyperdome or nearby.

Speculation that Costco was poised to move into the area mounted this week after residents of Timor Ave, Loganholme, reported trees and buildings being cleared from land next to the Harvey Norman Home Centre.

Clearing started on the site, on the Pacific Highway slip road, in October and temporary fencing erected.

QIC site near the Hyperdome where land has been cleared for a new business.
QIC site near the Hyperdome where land has been cleared for a new business.

A QIC spokesman said demolition works were carried out on dilapidated and unsafe buildings. He said despite no Costco, there were exciting plans for the site, which borders the former Sizzling Mongolian Restaurant and Lifeline store.

"We are well advanced in planning for a significant development at the centre ... it's still too early to comment on specific details."

Mayor Luke Smith made many overtures to entice Costco to the city, sparking a bargaining war with neighbouring Ipswich council.

In July, Costco took up the Ipswich option and ­settled on opening its newest Queensland store in Bundamba