| Decision | Consent granted Section 13(1)(c) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 27 July 2020 |
| Pathway(s) | Significant business assets |
| Investment | An overseas investment in significant business assets, being a leasehold interest for 45 years in approximately 4.399 hectares of non-sensitive land at Wiri Station Road, Auckland. |
| Consideration | $326,607,882 |
| Applicant | General Distributors Limited Australian Public (99.45%) New Zealand Public (0.36%) Various overseas persons (0.19%) |
| Vendor | AS NZ Property (Wiri) Pty Ltd AustralianSuper Pty Limited, Australia (100.0%) |
| Background | The Applicant is the property owning and leasing vehicle for Woolworths New Zealand Limited, which owns and operates the Countdown chain of supermarkets within New Zealand. The Applicant plans on leasing 4.399 hectares of land at Wiri Station Road, subdividing and creating a separate title for the land (which is currently bare), and building a temperature controlled storage facility on the land for its supermarket business. The Applicant has satisfied the OIO that the individuals who will control the investment have the relevant business experience and acumen and are of good character. The Applicant has also demonstrated financial commitment to the investment. |
| More information | Anna Crosbie Russell McVeagh (Auckland) PO Box 8 AUCKLAND 1140 |