Mitre 10 hammers out some mega plans

Fifteen new Mitre 10 Mega stores are planned for around the country. Photo / Hawke's Bay Today

Home improvement retailer Mitre 10 says it will open 15 more of its large-format Mega stores by the end of 2011.

The retailer has 22 Mitre 10 Megas and has already announced plans for another 10, including a 10,000sq m store in Lunn Ave, east Auckland.

Other locations for the new stores are Timaru, Masterton, Pukekohe, Paraparaumu and Warkworth.

The group of 10 already on the drawing board would be open by Christmas next year, with another five to follow the year after, the company said.

The expansion plans involved a total investment of $150 million and would create 1000 new jobs.

"There are clear signs the recession is abating, and while we have done well during the downturn as people get into their DIY projects, we now want to position Mitre 10 for strong growth in the future," chief executive Craig Wilson said.

The Lunn Ave store will include kitchen and bathroom displays, a cafe, garden centre, children's playground and building materials drive-through.

It will be owned and operated by Raymond and Dennis Yee, who currently own the Mt Wellington and Mt Roskill Mitre 10 stores.

Mitre 10 says it it more than twice the size of its nearest competitor, with 110 stores nationwide and sales of $1 billion.

All Mitre 10 New Zealand stores are owner-operated.

MITRE 10 MEGA

* 22 New Zealand stores.
* Another 15 planned in the next two years.
* Construction of the 10,000sq m Lunn Ave store now under way.
* Expansion worth $150 million and will create 1000 jobs.
* There are a total 110 Mitre 10 stores around the country.