| Decision |
Consent granted |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 21 July 2023 |
| Pathway(s) | Sensitive land – Benefit test |
| Investment | Acquisition of approximately 1.3410 hectares of sensitive land at 100 Gordonton Road, Puketaha, Hamilton, New Zealand. |
| Consideration | $3,988,750 |
| Applicant |
CDL Land New Zealand Limited |
| Vendor | David Bruce and Andrew George Etchells as Trustees of the Etchells Family Trust New Zealand 100% |
| Background |
The Applicant is a residential property developer with investments throughout New Zealand. The Applicant is a subsidiary of NZX listed CDL Investments New Zealand Limited. The land is currently used as a residential home and small building business. The Applicant owns adjoining land and will use both areas of land to carry out a residential subdivision development. The land contains a stormwater culvert which the Applicant intends to upgrade to service this land, and its adjoining land. This stormwater culvert upgrade will enable it to develop additional houses on its adjoining land. The main benefits to New Zealand are likely to include retention of jobs, increased investment for development purposes, increased efficiencies with the existing development, and support government policy relating to housing. Consent was granted as the Applicant has met the investor test criterion and the benefit likely to occur as a result of the Investment will result in benefit to New Zealand. |
| More information |
Andrew Petersen |