Kmart has ‘no confirmed plans’ to open at Timaru’s Showgrounds

Tuesday, 13 August 2024

KC Securities is seeking investors for the second stage of the retail development at The Showgrounds in Timaru.

Australian discount retailer Kmart has quashed claims it had signed up as the anchor tenant in the second stage of Timaru’s big-box retail development, The Showgrounds.

On Monday, a spokesperson for the company said it strived to give “more people access to great products at the lowest prices”.

“However, we have no confirmed plans to open a store in Timaru.

“Should this change, we will make a formal announcement.”

In the meantime, customers could shop its range at Kmart Ashburton or online, the spokesperson said.

A screenshot of the KC Securities website calling for investors in The Showgrounds. It listed four tenants for stage two, including Kmart, but has since been updated.

Kmart was listed as the anchor tenant for the second stage of The Showgrounds on the website of an investment company linked to the retail development.

KC Securities also listed Supercheap Auto, Petstock and Anytime Fitness as tenants in the second stage of the development, for which it is seeking investors.

“With Stage 1 complete and operational, focus has turned to the development of the balance of the site, known as Stage 2.

“Stage 2 combines a mix of large format and specialty retail with a dining precinct; anchored by Kmart, and supported [by] internationally and locally renowned brands.”

The KC Securities website no longer lists Kmart or other potential tenants for the second stage of The Showgrounds.

This would cement The Showgrounds’ position as the “number one destination in South Canterbury” for shoppers, retailers and investors, it said.

When asked about the information listed on its website, on Friday, company director Cameron Dargaville told The Timaru Herald the tenancies were not confirmed.

By Monday, the website had been updated and the four businesses were no longer listed.

The information was listed under a headline Timaru Mega Centre LP (Limited Partnership) Joint Venture, KC Securities LP and Equinox Group.

Dargaville also confirmed the ownership of the development had not changed, and KC Securities was only seeking investors. He directed further comment on tenancies to the “general partner”, Auckland-based developer Tony Gapes.

Gapes has been approached for comment.

Supercheap Auto and Petstock have also been approached for comment. Anytime Fitness was confirmed as a tenant, by Gapes, in December 2023.