| Decision | Consent Granted retrospectively Section 12(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 25 November 2024 |
| Pathway | Sensitive land - Residential land development (one-off) |
| Investment | Equitable control of shares in Sanvi Properties Limited. Acquisition of a freehold interest in approximately 4 hectares of land located at 27 Tahingamanu Road, Hobsonville, Auckland (Land). |
| Consideration | $9,238,000 |
| Applicant | Ho Ng Hong Kong (SAR) 100% |
| Vendors | Naiyu Wang and Ching Ip Ko Hong Kong (SAR) 100% |
| Background | Mr Ng has previously undertaken residential property development overseas. The land is currently undeveloped and will be used for a residential subdivision development that will create new sections to support 120 additional housing units. This was a retrospective application as consent was not obtained prior to the transaction occurring due to the Applicant not being aware the land interests had become sensitive at the time that further shares in Sanco were acquired. The transaction was self-reported to LINZ and retrospective consent was considered to be appropriate given the inadvertent nature of the breach. Retrospective Consent was granted as the Applicant met the investor test criterion and the investment is likely to result in an increased housing outcome. |
| More information | Royal Reed Meredith Connell PO Box 2213 Auckland |
| Retrospective penalty | $30,000 |
Summer services update
Summer services update
Summer services update
Our offices and services will have reduced availability over the holiday period. Read more about our holiday hours and services availability.