Mitre 10 Tauranga cops $500k fine for use of land covenants

The judge said it was important for the court to impose a penalty that was significant. (Image: Mitre 10)

Mon, 31 Jul 2023

The property arm of Tauranga’s Mitre 10 Mega has been pinged $500,000 by the Wellington high court for the use of an anti-competitive land covenant designed to stop competitor Bunnings from setting up shop nearby. Last December, the competition watchdog launched the court action against NGB Properties, the sister firm of Mitre 10 operator Juted Holdings, after the company placed a covenant on a nearby Cameron Rd site it was selling in June 2020. NGB's directors are listed as Tauranga-based Greg and Nicola Bold.That site next...

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