IKEA NEW ZEALAND SIGNS AGREEMENT FOR SALE AND PURCHASE OF REAL ESTATE WITH KIWI PROPERTY GROUP

IKEA New Zealand has signed an Agreement for Sale and Purchase of Real Estate with Kiwi Property Group. The agreement between both parties was signed on 30 November 2021. 

The agreement commences the process for the Sale and Purchase of the subject land at Sylvia Park in Auckland with Kiwi Property Group, once all conditions of the agreement are satisfied. 

While the COVID-19 pandemic has presented unforeseen challenges and developments, the intention has always been for IKEA to enter the New Zealand market in a good way. This has included identifying the best locations for future stores and customer meeting points. That is why IKEA is working in partnership with Kiwi Property Group, with their proven retail experience and expertise, to enable us to bring IKEA to the many New Zealanders in the best way possible.  

Mirja Viinanen, Chief Executive Officer and Chief Sustainability Officer for IKEA New Zealand says, “At IKEA, our vision is to create a better everyday life for the many people. Since we announced our intention to enter the market, the response from New Zealanders has been overwhelmingly positive. The signing of the Agreement for Sale and Purchase of Real Estate with Kiwi Property Group is an important step in making this a reality.” 

“We look forward to sharing more details of our plans and timings to bring IKEA to the many New Zealanders in the near future.” 

Clive Mackenzie, Chief Executive Officer for Kiwi Property Group says, “We’re excited to be taking this important step towards having an IKEA presence at Sylvia Park. 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.”