Discount department-store Kmart has been named as the anchor of a new retail development scheduled to open in Ashburton in late 2022.
Developed by property investor Tricoft, the project, River Crossing, will be located on a near-vacant site on the corner of Cass and South Streets. Construction will start next year.
The Ashburton store is part of a broader Kmart expansion plan in New Zealand, which has seen new stores open in communities such as Invercargill, Queenstown, Blenheim and Rotorua.
“We’ve been exploring potential site locations for some time and think that Ashburton is a great fit for Kmart,” said Jason Picard, country manager at Kmart New Zealand. “It’s a strong-performing regional hub with good demographics and it will be a wonderful addition to our New Zealand store network.”
Besides housing a large Kmart store, the development will be home to about 12 independent F&B tenants. The new Kmart will occupy more than 4500sqm with four smaller tenants adjacent. Other tenants will be located in a separate 900sqm co-located building.
“Currently, many locals travel to Christchurch or Timaru to go shopping, so we’re hoping that having a Kmart in town will help encourage people to spend their money in Ashburton instead,” said Tony Gilbert, GM of Tricroft Properties.
A report by Market Economics found that 32 per cent of retail spending by Ashburton residents goes outside the town, half of that heading to Christchurch.
“Kmart and the associated food outlets will add to the choice that is currently on offer for local residents, while increasing business activity at this end of the town centre as well as growing and adding strength to the overall retail offering in Ashburton,” Gilbert added.
The new development will be located alongside a Countdown supermarket, about 450m from Ashburton’s CBD. Established retailers nearby include Burger King, KFC, Pizza Hut, Couplands Bakery, McDonald’s, Pita Pit and two service stations.
