A 3.2 hectare IKEA store is coming to Auckland's Sylvia Park mall.
In a statement on Thursday, Kiwi Property said it had reached a conditional agreement with the furniture giant. The agreement between both parties was signed on November 30.
The new store will be on Te Ahoterangi Rise, immediately adjacent to the east of the shopping centre.
It comes after IKEA said in January 2019 it would open a store in New Zealand "in the next few years" - but IKEA said the Covid-19 pandemic presented unforeseen challenges since that time.
"Kiwis have been eagerly awaiting the arrival of IKEA and we’re pleased to be working with them on that journey," Kiwi Property Chief Executive Officer Clive Mackenzie said.
"Sylvia Park is already New Zealand’s favourite shopping centre, and we’re focused on finding innovative ways to make it even better."
Chief Executive Officer and Chief Sustainability Officer for IKEA New Zealand Mirja Viinanen added that the brand's intention had always been for IKEA to enter the New Zealand market "in a good way, which has included identifying the best locations for future stores and customer meeting points".
"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."
Kiwi Property also announced on Thursday its intention to develop a complementary 6430 square metre format retail centre, directly adjacent to the land conditionally sold to IKEA.
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