IKEA is set to expand its presence in Victoria, following Planning Minister Justin Madden's decision last month to approve a planning permit and rezoning of the Pipeworks Markets site in Campbellfield.
Once complete, the 41,000 square metre development will be home to Australia's largest IKEA. Mr Madden said the project would provide a $170 million boost to the local economy and create up to 400 ongoing jobs and 700 construction jobs.
Mr Madden said that as Melbourne's north is expected to grow significantly over the next 20 to 30 years, it is vital to provide jobs, services and retail choices. He said the development "is a major boost for the local economy and great news for the community."
Hume City Council had requested the Minister to call-in and approve the permits necessary for the development.
Construction is expected to commence in mid-2011, with the store scheduled to open in mid 2012. It will be Victoria's third IKEA store, adding to the existing store at Victoria Gardens, Richmond, and Springvale store currently under construction.
Mr Madden said IKEA had been working closely with the Pipeworks Market's current owner to ensure an effective transition and to ensure any existing agreements are fulfilled. He said current stallholders are expected be offered a "refreshed and expanded market operation in the near future."