Costco Wholesale is set to open its second New Zealand store in Drury after striking a deal with Kiwi Property.
As part of the conditional agreement, Kiwi Property will sell 6.4ha of land at its new Drury development to Costco. The financial details of the deal were not disclosed.
The site is located at the southern end of Kiwi Property’s 53ha landholding, adjacent to State Highway 1.
Kiwi Property CEO Clive Mackenzie said the transaction marked a major milestone in the Drury development program.
“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,” he said.
Chris Tingman, Costco country manager, added: “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 opened its first store in New Zealand at Auckland’s Westgate in 2022.