| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision maker | The Minister for Land Information and the Associate Minister of Finance |
| Decision date | 6 September 2018 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 84.5070 hectares of land at Grand View Estate property (Hall Farm) Grand Drive and off Weranui Road Orewa West. |
| Consideration | $62,800,000 |
| Applicant | AVJ Hobsonville Pty Limited SC Global Developments Pte Limited, Singapore (53.02%) Australian Public (46.98%) |
Vendor | Orewa West Investments Limited New Zealand (100%) |
| Background | The Applicant is a subsidiary of AVJennings Limited. Its Investment Plan involves the development of undeveloped land into residential housing through a staged development to ultimately provide approximately 575 residential homes into the Auckland housing market. The Applicant also intends to develop a mixed use retail and commercial neighbourhood centre on the land. The Investment is likely to result in the creation of job opportunities associated with the planned intensive development of the land, advancement of the National Policy Statement on Urban Development Capacity and enhanced domestic services in relation to the construction of the neighbourhood centre. The Applicant has also previously undertaken investments of benefit to New Zealand, being the development of several precincts at Hobsonville point, which have resulted in the delivery of a large number of homes to the Auckland housing market, including affordable homes. |
| More information | Stephanie Harris Glaister Ennor PO Box 63 AUCKLAND |