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Jul 18

Kiama Supply Co site owners test market

The Kiama Supply Co, which has family links dating back to the 19th century. Picture: ROBERT PEETKIAMA’S CBD appears set to be a hive of activity, as the end of an era looms for one of Kiama’s oldest businesses.
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Expressions of interest have been called for Kiama Supply Co in Terralong Street.

The store has been on its current Terralong Street site since the 1950s, but through the Simmons family has links to general stores in Kiama that date back to the 1880s.

The business became known as Kiama Supply Co when a number of Kiama businessmen came on board as directors and investors.

However, these directors were bought out in the late 1970s by brothers Dave and Ross Simmons.

The property comprises two parcels of land, which combined are almost 2000 square metres.

The property is being advertised as a development site.

The rear parcel neighbours Kiama council’s Akuna Street car park, which has been earmarked for a retail and residential development.

Store owner Dave Simmons said the timing was right for the business to test the market, especially with council’s interest in the adjoining land.

The property is for sale by tender, but it may be some time before Kiama Supply Co closes, with a “lease back” option included in a potential sale.

Kiama Mayor Brian Petschler said the Kiama Supply Co property was of strategic interest to the council.

“We have been made aware of the sale … but we are fairly committed financially to existing programs,” Cr Petschler said.

“We are looking at it but I can’t say at this stage if we would be taking steps to get involved.”

The Akuna Street car park was discussed during a confidential session at the council’s October meeting.

General manager Michael Forsyth said the council had significant interest from a supermarket retailer for the site.

“Colliers have advised us that we’ve got a retailer who is interested,” he said.

A potential second supermarket in Kiama has been touted as the focal point of the proposed Akuna Street development, which it is believed could have an “economic accelerator” effect.

The area was identified as a key strategic site by the council in 2002.

The concept plan provides for a supermarket of 2000 square metres, up to 14 speciality shops, about 30 units and provision to retain the existing 79 car spaces.

In 2012, the council paid $3.2 million for Weston and Co Publishing’s property in Shoalhaven Street, next to the car park.

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