Costco on your doorstep: Build your dream house within easy reach of the retail giant
A rare buying opportunity to live walking distance from a Costco awaits the future new owners of a handful of new home sites in Booraloo within Lake Macquarie.
The American retail giant’s Lake Macquarie warehouse – the first regional Costco store in NSW – will see 22 lots at the Weemala by the Lake development built 190 metres from the superstore.
It follows Lake Macquarie City Council’s approval to rezone a portion of residential land as part of the Weemala at the Lake Development, which is already home to just over 400 residents.
More than 20 lots at the Weemala by the Lake development will be available for homebuyers. Picture: Green Capital Group
Subject to any future development applications lodged with council, Green Capital Group project director Peter Francis said the lots were likely to hit the market late next year.
Costco’s first Australian warehouse opened in 2009, and the American giant – the third-biggest retailer in the world – boasts 16 stores across the country.
The membership-only retailer’s Lake Macquarie store has its own fuel station, food court, and tyre outlet, all on the doorstep of the future new landowners of the new 22 lots at Weemala by the Lake.
The estate has proved popular with people who have sold up in western or north-western Sydney for anywhere from $1.3-$1.5 million, Mr Francis said, who then buy a house and land package with money left over, establishing a new life in the region.
Costco operates no-frills warehouses with stock stacked on pallets and larger pack sizes. Picture: Getty
“There’s plenty of jobs going in Newcastle, (and) given this location on the southern side of the Newcastle geography, they’re actually, in some cases, able to work from home a few days a week and commit to Sydney another couple of days a week,” Mr Francis said.
“It’s a really good location because it’s on the southern side of the Newcastle/Lake Macquarie area so it’s easy access to get to Sydney or via the railway station.
“There’s plenty of jobs within the local area as well.”
In addition to Costco, a Bunnings store borders the estate, as well as a shopping centre.
Costco has opened 16 stores across the country since entering the Australian market in 2009. Picture: Costco
“Costco and Bunnings are definitely important aspects of the offer,” Mr Francis said.
“The Costco is the first regional Costco outside of capital cities, and it’s going gangbusters – they’ve being really happy with the outcome.”
Lake Macquarie City Council’s decision to rezone the land to make way for the 22 Costco adjacent lots is part of its Local Strategic Planning Statement, which identified the north-west growth area of Lake Macquarie as a location that will drive investment and change.
“The planning proposal will facilitate delivery of additional housing in the north-west growth area and provide economic benefits associated with increasing residential development,” it said in a statement.
