Costco sells ex-Docklands store
Costco has sold its Docklands store after upsizing to a larger one west of town.
The surprise off-market deal with Sonic Healthcare was negotiated by the Department of Jobs, Skills, Industry and Regions.
The 14,000 square metre warehouse with undercover parking on 2.7 hectares at 331-381 Footscray Road will now be fit out for pathology with laboratories, trading at least five days a week. It will also be utilised as the healthcare giant’s local headquarters.
It is the first time the property was offered since 2000 when the Victorian government ran a tender process seeking an occupier.
As part of that deal, Costco Wholesale Australia acquired the real estate, which it traded from until April 8.
In 2022, it paid Powercor $33.4 million for 740 Ballarat Rd, Ardeer – 15 kilometres from town – to build a replacement larger store; on 5.94ha with c16,000 sqm, opened April 9.
The Docklands disposal price is $100m.
A company spokesperson declined to comment when contacted.
More to come.
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