| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision maker | Overseas Investment Office |
| Decision date | 13 August 2018 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 0.7431 hectares of land situated at 253,255 & 266 Edmonton Road, Te Atatu South, Waitakere along with consent to acquire a leasehold interest in the same land in the event the Applicant disposes of the freehold interest |
| Consideration | Withheld under s9(2)(b)(ii) of the Official Information Act |
| Applicant | General Distributors Limited Australian Public (99.39%) New Zealand Public (0.4%) United Kingdom (0.05%) Other overseas persons (0.16%) |
| Vendor | Te Atatu and Bluewater Trusts Partnership New Zealand (100%) |
| Background | The Applicant has applied for consent to acquire the freehold interest in sensitive land situated at 253,255 & 266 Edmonton Road, Te Atatu South, Waitakere. The Applicant is the property holding company for Woolworths New Zealand Limited which owns and operates the Countdown chain of supermarkets within New Zealand. The Applicant currently leases the land and operates a Countdown supermarket which has operated on the land (under various branding) since 1967. This investment ensures the continued operation of a supermarket on the land and will result in job retention. 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 | Steve Rendall Russell McVeagh PO Box 8 AUCKLAND |