THE Kmart “shopping mall” being built in Invercargill will not be in direct competition with the HWCP retail precinct planned for Invercargill’s CBD, Windermere Holdings Ltd director Paul Smith says.
Windermere Holdings is developing the complex for Kmart and eight other tenants.
The Kmart complex is being built at 15 Clyde St, about a block from the retail precinct planned for the block bordered by Tay, Dee, Esk and Kelvin Sts.
“They will complement each other,” Mr Smith said.
“Capital follows capital.”
Mr Smith said they had been approached by representatives from HWCP to develop a Kmart store in the retail precinct, but Kmart declined the location about 18 months ago.
“We assessed it on behalf of Kmart as an alternative site, but they decided it wasn’t for them,” Mr Smith said.
“It didn’t give them the dimensions they required… and didn’t meet their criteria on a number of fronts.”
The Invercargill City Council classified the Kmart development as a “shopping mall” because it included several subsidiary tenants.
Mr Smith said the classification was accurate given there would be eight other tenants in the development aside from the large box retailer.
Six of the eight tenants had been confirmed so far.
Mr Smith declined to say who the tenants were at this stage, but said they were national brand stores, a mix of food outlets and general merchandise stores not already established in Invercargill.
“They would complement the offering for Invercargill.”
Mr Smith was in Invercargill last week to check on the progress of the development.
“Everything is on track and the programme on site has started,” he said.
The Kmart complex is expected to be completed late next year.
HWCP Management Ltd director Scott O’Donnell was unavailable for comment at the time of print.