Decision | Consent granted |
|---|---|
Decision Maker | Overseas Investment Office |
Decision Date | 13 July 2018 |
Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a leasehold interest in approximately 1.4589 hectares of land at 32 Kaimiro Street, Te Rapa, Hamilton. The land is sensitive, because it is over 0.4 hectares and adjoins Pukete Farm Park, a recreation reserve of over 70 hectares. |
Consideration | $8,625,000 |
Applicant | Action Manufacturing LP (formerly RV Manufacturing Group LP) |
Vendor | John Mervyn Cook and Paul Lewis Middlemiss as trustees of the Kaimiro Trust |
Background | The Applicant is the largest vehicle manufacturer in New Zealand for campervans, motorhomes, recreational vehicles and specialist vehicles (i.e. ambulances and mobile clinics). The Applicant has two factories in Auckland and Hamilton. As the land is close to the Hamilton factory which is operating at full capacity, the Applicant plans to relocate its Hamilton premise to the land to allow manufacturing growth and meet increasing export demand in Australia. The Applicant intends to develop the land into a multifunction manufacturing environment that will allow it to increase production, resulting in additional jobs, exports and development capital to modify and develop the land. Without the Investment, an alternative lessee may use the land principally for warehouse storage and offices similar to its current use. The land is possibly used for engineering or manufacturing purpose by another lessee, however the scale and nature of the possible land development is unclear. The lessor of the land is a New Zealand trust, with all trustees and beneficiaries being New Zealand citizens. |
More information | Mark Stuart |