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Where is Australia’s largest IKEA store? Melbourne - News - Invest Victoria, Melbourne, Australia

Where is Australia’s largest IKEA store? Melbourne


28 October 2010

Development of Australia’s largest IKEA store has been given the green light in a move set to provide a $170 million boost to the local economy while creating up to 400 ongoing jobs and 700 construction jobs in Melbourne’s north.

The 41,000 square metre IKEA site is close to transport in Campbellfield - a region expected to grow significantly over the next 20 to 30 years – and is in keeping with the principles of Melbourne 2030 and Melbourne @ 5 million, the Victorian Government’s long-term plan for managing the city’s growth.

Construction on the new IKEA store is due to commence in mid 2011 with the store scheduled to open in mid 2012. This will be Victoria’s third IKEA outlet, with the Richmond store open and the Springvale store under construction.

The new development is set to further strengthen Melbourne’s retail sector, with $191 million worth of proposals in the pipeline, including a five store expansion of the German retailer Aldi and a chain of 12 new large-format hardware stores proposed by Woolworths in a joint venture with America's second largest home-improvement chain, Lowe's.

Other recent retail investments include a $286 million retail centre in Springvale, the $500 million Myer redevelopment and the opening of Australia’s first Costco Wholesale warehouse at Melbourne’s Docklands precinct.

Australian Bureau of Statistics figures show that Victoria outperformed the rest of the nation on retail trade in the year to August 2010, recording 6.5 per cent growth, ahead of the four per cent national average.
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