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Swedish homewares firm Ikea is bidding to buy 10ha of land in south Auckland to build a store, the Independent business publication says, quoting sources.

It was understood the business, known for its cheap, design flatpack furniture, had been searching for sites in this country for the past two years.

The site being targeted in Manukau had a market value of $40 million and was next to the TelstraClear Pacific Events Centre.

Centre managing director Richard Jefferies confirmed there was a potential buyer for the land, but declined to comment whether it was Ikea.