| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 1 December 2020 |
| Pathway(s) | Residential land development (Non-residential use - One-off purchase) |
| Investment | An overseas investment in residential (but not otherwise sensitive) land, being the Applicant's acquisition of approximately 0.0632 hectares of freehold land at 24 Kipling Avenue, Epsom, Auckland. |
| Consideration | $2,275,000 |
| Applicant | Evolution Auckland Property Limited (company number 8060940), which is owned by certain overseas investment funds managed and/or advised by Pacific Equity Partners Pty Limited (PEP), an Australian incorporated private equity fund manager, PEP’s affiliates and certain New Zealand and Australia based management shareholders. |
| Vendor | Kipling House Limited New Zealand (100%) |
| Background | The Applicant is a New Zealand registered company which is ultimately wholly owned by Pacific Healthcare HoldCo Limited. One of the businesses of the Pacific Healthcare HoldCo Limited group of companies is private healthcare, including the provision of facilities and patient care. The consent allows the Applicant to acquire the land for the purpose of converting the existing two residential units on the land into medical consulting suites. The conversion is expected to be completed by mid-2022. The new medical consulting suites will adjoin an existing medical practice operating from Gillies Avenue. |
| More information | Kim Dreifuss Russell McVeagh (Auckland) PO Box 8 AUCKLAND 1140 |