| Notification | Notification of a transaction under a Standing Consent Section 12(1)(a) and Section 13(1)(c) Overseas Investment Act 2005 |
|---|---|
| Notification number | 7 (of 15) |
| Decision date | 29 September 2023 |
| Pathway(s) | Sensitive land – Residential land development (one off) |
| Investment | Acquisition of a freehold interest in approximately 0.6630 hectares at 80 Tephra Boulevard, Stonefields, Auckland. |
| Asset value | $8,620,000 |
| Applicant | Fletcher Residential Limited Australia 56% New Zealand 21% United States of America 13% United Kingdom 5% Various 5% |
| Vendor | AINZ Fund 10 Limited |
| Background | The Consent Holder was granted a residential standing consent under the Increased Housing and Non-residential Use tests on 3 March 2021. This permits the Consent Holder to acquire up to 200 hectares of land in up to 15 transactions by 31 December 2028. This is the seventh acquisition of Land under the standing consent. The Consent Holder intends to build 26 new residential dwellings. The Consent Holder expects to complete the subdivision and development of all residential lots by 30 June 2026 and expects to have sold all the new residential houses to third party purchasers by 30 September 2026. |
| More information | Greg Allen Simpson Grierson 151 Cambridge Terrace City Central, Christchurch 8013 |