Costco in south London is on the move, a shift that will help create a new big-box bonanza site.
The retailer is moving south on the same land parcel where it now operates, sharing the space with anew Ikea home furnishing store yet to be built.
The new Costco will be bigger and feature a gas bar, creating a retail power centre at Wellington Road and Highway 401, Peter Whatmore, vice-president of commercial realty firm CBRE, said Thursday.
“It will be fantastic,” he said of the move.
“It will give life to that whole area and change the site. Costco is a destination retailer. Ikea is a destination retailer. It will draw a lot.”
The new Costco will grow by about 2,800squaremetres and front on Dingman Drive.