| Notification | Section 23A Overseas Investment Act 2005 Schedule 4(2) – Residential land – standing consent |
|---|---|
| Notification number | 4 of 20 |
| Decision date | 18 April 2024 |
| Investment | Acquisition of a freehold interest in approximately 0.3995 hectares of land at Lot 5511, 111 Dendro Ring Road, Pine Valley 0992. |
| Consideration | $3,566,563 |
| Consent holder | Universal Homes The People’s Republic of China 100% |
| Vendor | Fulton Hogan Land Development Limited New Zealand 100% |
| Background | The Consent Holder holds a residential standing consent under the increased housing test.. This permits the Consent Holder to acquire up to 21.5 hectares of land in up to 27 transactions by 3 April 2028. This is the fourth acquisition of land under the standing consent. The Consent Holder intends to construct 21 dwellings which will be sold as residential homes. The construction of these dwellings is expected to start in July 2025 with completion expected to be in July 2026. The Consent Holder expects all dwellings to be sold by December 2026. |
| More information | Matthew Ockleston Dentons 18 Viaduct Harbour Ave Auckland 1010 |