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Furniture into Prime Wairau Park Site

Pacific Retail Group Puts Furniture into Prime Wairau Park Site

Pacific Retail Group (NZX: PRG) today announced its intentions to establish a Noel Leeming Furniture and Appliance Mega Store on the prime site it owns in the North Shore’s Wairau Park.

“This is a fabulous site in what is widely recognised as New Zealand’s premier big ticket retail destination,” says Chief Executive, Peter Halkett. “It’s an ideal location for a furniture and appliance mega store and, now that the concept has been proved successful in Botany Downs and Manukau, we are looking to open up more combined furniture and appliance stores in the future.”

The new store will also pave the way for further category extensions for Noel Leeming. “Our furniture offer has been well accepted by consumers,” says Halkett. “This has created a platform on which we can extend the Noel Leeming brand even further. In future, you may see Noel Leeming take on the characteristics of a department store or home store, as we add other complementary categories to our current portfolio.” PRG expects the new mega store to be completed by early 2004.

ends PRG Company Background Pacific Retail Group is an NZX-listed retail company with revenues currently in excess of $600 million and total assets of more than $400 million. It trades through 105 appliance, electronics, computer, furniture and home ware retail stores. The Group’s business comprises some of New Zealand’s leading brands including Noel Leeming, Bond & Bond, Big Byte, Living & Giving, Elle MacPherson Intimates, Bendon Lingerie, and its finance companies, Pacific Retail Finance and Noel Leeming Financial Services.

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