US multinational shopping chain Costco will build a huge store at Perth Airport’s retail estate in a AUD$55m ($43.4m) deal, it has been announced.

Aside retail (white goods, jewellery & watches, F&B and more) the 14,000sq m area will incorporate optical, hearing and tyre centres, and a petrol station.

Construction is expected to begin next year subject to planning approvals, with the opening due in 2020.

‘THOUSANDS OF PRODUCTS’

“Costco’s decision to invest at the Airport West Retail Park is a huge vote of confidence in Perth Airport and the WA economy,” commented Perth Airport Chief Corporate Services Officer Debra Blaskett.

“Costco delivers thousands of products – from day-to-day groceries to clothing and electronics – at heavily discounted prices for its members.”

The warehouse will be situated adjacent to a new $150m Direct Factory Outlet (DFO) due to open this year that will offer tax-free refunds to international travellers.

Costco has promised ‘big savings’ for families on groceries, electronics, furniture, petrol and other products.

CHANGING SHOPPING HABITS

Costco Australia Managing Director Patrick Noone said: “We are going to change Perth’s retail habits: it’s not a shopping trip to Costco, it’s a shopping experience.

“We keep our costs down so we can pass on the savings to our members and we believe Western Australians are going to embrace this new way of shopping.

Perth Airport Chief Commercial Officer Steven Holden says the arrival of Costco underlines the strategic importance of Perth Airport as a commercial precinct.

“Costco will be a welcome addition to the Airport West Retail Park which will be situated next to the DFO, creating one of Perth’s premium destination retail locations. We are confident other major projects will soon follow their lead,” he added.