| Notification | Section 23A Overseas Investment Act 2005 Schedule 4(2) – Residential land – standing consent |
|---|---|
| Notification number | 8 (of 12) |
| Decision Date | 30 June 2022 |
| Investment | An overseas investment in residential-only sensitive land, being the Applicant's acquisition of a freehold interest in approximately 1.2106 hectares of Land at Clark Road, Hobsonville Point, Auckland. |
| Consideration | Withheld under s 9(2)(b) of OIA |
| Applicant | Fletcher Residential Limited New Zealand Public (21.8%) Australian Public (54.4%) Various overseas persons (23.8%) |
| Vendor | Kāinga Ora |
| Background |
The Applicant was granted a standing consent based on the Increased Housing/Non-Residential Use tests on 18 April 2019. This permits the Applicant to acquire up to 200ha of residential (but not otherwise sensitive) land in up to 12 transactions by 1 May 2022. This is the eighth acquisition of land under the standing consent. The Applicant intends to subdivide and develop the land, for the purpose of constructing approximately 112 residential dwellings. It is intended that construction will be completed by 31 March 2025. Under the standing consent the Applicant must increase the number of dwellings on the land, or undertake development works to support, and must divest all interests in the sensitive land within 10 years. |
| More information | Gregory Allen Simpson Grierson (Auckland) Private Bag 92518 Auckland 1141 |