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The jewel in Wellington City's shopping crown, Kirkcaldie & Stains, today bought the Harbour City Centre for $29 million.
The deal, which is to take effect from March 29 next year will enable Kirks to expand its retail range to make way for more top- line international brands.
Kirks managing director Richard Holden told The Evening Post today the department store would become a significant tenant of the seven- level Harbour City building over time.
But in the short term, the company wasn't looking at pushing out any of the tenants who have long-term leases.
"We'll just take the opportunities as they come up," Mr Holden said. "The deal stacks up commercially even without the dimension of allowing us to expand our ranges.
"We do have opportunities with a...