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US supermarket giant Costco is planning to open a second New Zealand store in Franklin’s Drury.
The announcement on Wednesday, November 12, is a move Economic Growth Minister Nicola Willis says is great news for Kiwi shoppers.
The announcement follows the introduction to Parliament last week of legislation creating a consenting express lane so that new supermarkets can be approved and built more quickly.
“The Government is working with Costco to ensure that we are doing everything possible to make consenting as quick and efficient as possible,” Willis said.
Property company Kiwi Property says that it has reached a conditional agreement to sell Costco 6.4 hectares of land next to its 53-hectare residential, commercial and retail development at Drury.
Costco, a ‘hit’ with Kiwis
Kiwi Property Chief Executive Officer, Clive Mackenzie, said the transaction marked a major milestone in the Drury development programme.
“Costco has been a hit with Kiwi consumers since it opened its first store in Auckland and we’re pleased to be working with them on this exciting opportunity to bring Costco further south,” Mackenzie said in a statement.
“We are very excited to be entering into this agreement with Kiwi Property in a location as great as Drury. Whilst still subject to planning and corporate approvals, our aim is to introduce our unique high-quality, low-cost merchandise to Drury, serving our significant membership base in the south of Auckland, as well as Hamilton and the Waikato region,” Costco Country Manager Chris Tingman said.
The site is located at the southern end of Kiwi Property’s 53-hectare landholding, adjacent to State Highway 1.
The Kiwi Property development, which received fast-track approval last week, is projected to inject over $1.45 billion into Auckland’s economy over the next 11 years and deliver about 3420 full-time jobs in construction and related services.
“Costco’s planned expansion will add to that boost by creating more construction jobs,” Willis said.
“It is also fantastic news for shoppers. More competition means more choice and lower prices.
“Costco’s West Auckland store has already improved competitive dynamics in that local area and created a new export pathway for several New Zealand food suppliers.
“Costco Westgate has 250,000 members who value the choice it offers. The store employs hundreds of staff.
“The establishment of another store in South Auckland will give more Aucklanders, as well as people in Waikato, access to the same choice.
“Developments like this benefit from the steps the Government has taken to make it easier to build supermarkets in New Zealand,” Willis said.
