| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 10 July 2019 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 0.2650 hectares of land located at 37B Cobham Road, Kerikeri. |
| Consideration | $253,500 |
| Applicant | Metlifecare Limited New Zealand Public (69.23%) Australian Public (18.59%) United States Public (6.37%) Various overseas persons (5.81%) |
| Vendor | Kerikeri R.S.A. Trust Fund Incorporated New Zealand (100%) |
| Background | This consent has been granted in accordance with the increased housing test set out in Schedule 2(11) of the Act. The Applicant is one of New Zealand’s largest retirement village operators. The land is residential (but not otherwise sensitive) land. The land will be incorporated into the adjoining Oakridge Villas retirement village (and will allow the construction of several new independent living units). |
| More information | Camille Warnaar P O Box 37 463 Auckland 1151 |
See the attached assessment report linked below, which was published in response to an Official Information Act request: