| Decision | Consent granted Section 12(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 03 October 2023 |
| Pathway(s) | Sensitive land - Residential land development (one off) |
| Investment | Acquisition of a freehold interest in approximately 0.438 ha at 90 Felton Mathew Avenue, St Johns, Auckland |
| Consideration | $3,318,000 |
| Applicant | Roof Tile Properties Limited Canada 100% |
| Vendor | Fletcher Property Limited |
| Background | The Applicant is ultimately owned by the IKO Group based in Canada. The IKO Group manufactures steel roof tiles, insulation, asphalt shingles and membrane roofing. The Applicant owns the adjoining property to the land, where its sister company operates a roof tile manufacturing business. The Applicant will primarily use the land as a buffer zone between the roof tile manufacturing business and nearby residential housing. A portion of the land will be utilised for carparking. Consent was granted to this investment as the Applicant met the investor test criterion and the investment is likely to result in a non-residential use outcome. |
| More information | Luke Bowers Tompkins Wake PO Box 258 Hamilton |