The warehouse suffered extensive damage during the April superstorm and despite reopening part of its floor space to customers since then, much of the site remains closed.

The prospective site for the new development is the vacant lot next to the current warehouse.

Bunnings management said the decision to investigate potential new store locations had nothing to do with the April superstorm.

"Well before the storms earlier this year we started investigating opportunities to increase our offering with a larger store, to meet the growing demands of the community," general manager of property Andrew Marks said.

"We have now identified land next to the existing Maitland store and we are speaking with the relevant authorities to understand if there is an opportunity to develop a new, bigger store to replace the current warehouse."

The site faces both Bungaree and Ledsam streets and backs on to the railway tracks.

While the plans are still under assessment, Mr Marks said talks had already begun with Maitland City Council.

"The existing Bunnings Warehouse Maitland is currently undergoing the final stages of repairs and will be completed regardless of the outcomes of these discussions," he said

"If there is an opportunity to develop a new Bunnings store, the existing, fully repaired store will provide an attractive prospect for other retailers seeking to establish a presence in Maitland."

Bunnings leases the site from The Bunnings Warehouse Property Trust, which is a separate entity.

It is not known if the damage voided the company's lease with BWP Trust.

Bunnings Warehouse Maitland reopened to customers in August, more than three months after the April superstorm forced the store to close.

It is believed a failure of the stormwater pipes caused the erosion and damage to about 10 per cent of the site.