| Notification | Notification of a transaction under a Standing ConsentSection 12(1)(a) and Section 13(1)(c) Overseas Investment Act 2005 |
|---|---|
| Notification number | 1/25 |
| Date | 20 June 2023 |
| Consideration | $57,506,121 |
| Consent holder | Metlifecare Limited 100% owned by EQT Partners Infrastructure Fund IV, which is 100% overseas owned. No one entity holds more than 5% of this fund |
| Vendors | Merivale-Willowlea Holdings Limited, Merivale Retirement Village 2011 Limited and Merivale Lifecare 2011 Limited |
| Background | The Consent Holder was granted a standing consent under the increased housing, non-residential and incidental residential use pathways on the 20th of July 2022. This standing consent permits the Consent Holder to acquire up to 300 hectares of residential land (but not otherwise sensitive) in up to 25 transactions with a maximum of 25 hectares per transaction by 25th of July 2027. This is the 1st transaction under this consent being approximately 2.7017 hectares of land at 27 Somme Street, St Albans, Christchurch. The Consent Holder has acquired the land to approximately develop 18 villas and amenities to be a part of the Merivale Retirement village. The Consent Holder expects construction to have begun by June 2024 with construction completed by December 2025. |
| More information | Andrew Petersen Bell Gully PO Box 4199 Auckland 1140 |
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