| Decision | Consent granted Section 12(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 04 October 2023 |
| Pathway(s) | Sensitive land – Benefit test |
| Investment | Acquisition of approximately 3.2887 hectares of sensitive land at 57A Puketaha Road, Puketaha, Hamilton New Zealand. |
| Consideration | $4,136,478 |
| Applicant | CDL Land New Zealand Limited Singapore 57% New Zealand 38% Australia 4% Various 0.4% |
| Vendors | Grahame Barry Coker 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 is grazed for maintenance purposes. The Applicant owns adjoining land and will use both areas of land to carry out a residential subdivision development. The main benefits to New Zealand are likely to include 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 Bell Gully (Auckland) PO Box 4199 Auckland 1140 |