Ikea will open its first New Zealand store at Auckland's Sylvia Park
It was announced in 2018 the Swedish furniture company would be hitting our shores - but its opening has been delayed by the COVID-19 pandemic.
Sylvia Park owners Kiwi Property Group and Ikea revealed the details on Thursday, saying a sale and purchase agreement had been signed.
"While the COVID-19 pandemic has presented unforeseen challenges and developments, the intention has always been for IKEA to enter the New Zealand market in a good way," IKEA said in a statement.
The company said Kiwi Property has proven retail experience and expertise "to enable us to bring IKEA to the many New Zealanders in the best way possible".
"Since we announced our intention to enter the market, the response from New Zealanders has been overwhelmingly positive. The signing of the agreement for sale and purchase of real Estate with Kiwi Property Group is an important step in making this a reality," Ikea New Zealand chief executive Mirja Viinanen said.
"We look forward to sharing more details of our plans and timings to bring IKEA to the many New Zealanders in the near future."
Kiwi Property chief executive Clive Mackenzie said it was pleased to be working with Ikea.
He said Kiwis have been eagerly awaiting the arrival of the iconic furniture chain.
There are more than 464 Ikea stores around the world, with the latest Ikea stores opening in India's Mumbai and the Philippines' Pasay City.
Ikea was founded in 1943 by Ingvar Kamprad when he was just a teenager. He was once estimated to have a fortune of more than €30 billion.