Sylvia Park-owner Kiwi Property Group has won a coup for the country’s biggest mall, securing New Zealand’s first Ikea store for its flagship retail property.
NZX-listed Kiwi Property has agreed to sell land to Ikea New Zealand at the Sylvia Park site and, subject to certain conditions being met, will go ahead with bringing the global phenomenon to the country almost three years since the breathless press conference announcing its arrival.
The covid-19 pandemic threw some roadblocks in the way of a quick rollout as the Swedish giant looked for the best locations for its stores before settling on partnering with Kiwi Property.
“Since we announced our intention to enter the market, the response from New Zealanders has been overwhelmingly positive,” Ikea NZ chief executive Mirja Viinanen said in a statement.
“We look forward to sharing more details of our plans and timings to bring Ikea to the many New Zealanders in the near future.”
The deal comes almost five months since Ikea Australia chief Jan Gardberg signalled it was on its way, with deals, locations and strategies sorted.
Kiwi Property bought more land at Sylvia Park in October, saying at the time opened new options for showrooms, office space, or large-format retail.
“We’re excited to be taking this important step towards having an Ikea presence at Sylvia Park,” Kiwi property chief executive Clive Mackenzie said.
“Our goal is to reinforce the centre’s standing as New Zealand’s leading shopping destination, attracting customers from around the country. We look forward to working together with Ikea New Zealand.”