| Decision |
Consent granted |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 25 September 2023 |
| Pathway(s) | Sensitive land - Residential land development |
| Investment | A freehold interest in approximately 2.6 hectares of land at 257-259 and 261 Napier Road, Kelvin Grove, Palmerston North. |
| Consideration | $2,600,000 |
| Applicant |
Bupa Retirement Villages Limited |
| Vendor | Cressmac Investments Limited New Zealand (100%) Colin Peter MacPherson New Zealand (100%) |
| Background |
The Applicant is retirement village operator which is an indirect subsidiary of the British United Provident Association Limited. The Applicant is seeking consent to acquire the land for the purpose of expanding its existing adjacent Riverstone Village. The land is currently used for residential purposes and as a gardening business. The Applicant intends to use the land to increase housing through the development of a long-term accommodation facility and related facilities. Consent was granted to this investment as the Applicant met the investor test criterion and the investment is likely to meet the increased housing test. |
| More information |
Katrine Kofoed |