Applicant
ApexOne 7 Project Limited
Case number(s)
202100492
Decision date
Type
Decision
DecisionConsent granted
Section 12(a) Overseas Investment Act 2005
Decision MakerOverseas Investment Office
Decision Date01 September 2021
Pathway(s)Residential land development (Increased housing - one-off purchase)
InvestmentAn overseas investment in sensitive land, being the Applicant’s acquisition of a freehold interest in approximately 688 square metres of residential land (the Land) located at 7 Seaside Avenue, Waterview, Auckland (the Land).
Asset Value$2,300,000
ApplicantApexOne 7 Project Limited
China, People's Republic of (70%) 
New Zealand (30%)
VendorZhen Du and Xiaofeng Li
Background

The Applicant is a residential housing developer. The Applicant intends to acquire the Land in order to increase in the number of residential dwellings constructed on the Land. 

We consider the Investment is likely to:

  • meet 1 of the increased housing outcomes - being the construction of five new residential dwellings (to replace the existing single dwelling on the Land);
  • meet the on-sale outcome - which means that after completing the development the Applicant must on-sell all interests in the Land (by 1 March 2025 at the latest);
  • meet the non-occupation outcome - which means the Applicant and certain related persons must not occupy the part of the land being used to increase housing.
More informationAlan Lear
Barrister
PO Box 3705, 
Auckland 1140