David Jones gets OIO approval to buy Kirkcaldies' store lease

Tue, 05 Jan 2016

By Fiona Rotherham Jan. 5 (BusinessDesk) - Australian retailer David Jones is on track to open its first international store mid-year after gaining Overseas Investment Office approval to buy the lease for the Kirkcaldie & Stains department store in Wellington, New Zealand. The OIO consent said the retailer, which is owned by Woolworths, would pay only $1 for the lease but planned to spend about $20 million refurbishing the Lambton Quay premises. The deal was approved on the basis of adding to market competition and investment for devel...

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