| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Date | 10 October 2017 |
| Investment | An overseas investment in sensitive land, being the Applicant’s acquisition of a freehold interest in approximately 43.03 hectares of land at 258, 265 & 272 Gordonton Road, Huntington, Hamilton (“Land”). |
| Consideration | $14,600,000 |
| Applicant | CDL Land New Zealand Limited New Zealand Public (38.897%) Hong Leong Group, Singapore (24.4489%) Singapore Public (22.2896%) Various overseas persons (11.0858%) United Kingdom Public (3.2788%) |
| Vendor | Neil Roderick McLean, Gavin William Sheath, John William Alexander Scott, Mary Elizabeth Scott and Eltan (Scott) Trustees Limited as trustees of the Scott J D J No.2 Trust and L M Scott Family Trust New Zealand (100%) |
| Background | The Applicant’s business is the acquisition and development of land from an undeveloped form to residential housing sections. The Applicant plans to develop the Land into a modern high quality residential subdivision and sell the sections on the open market. The subdivision is intended to include supporting open space, commercial and social activities. The Applicant has a number of previous investments in New Zealand, which have created jobs throughout New Zealand and residential housing sections, including in Auckland, Christchurch and Hamilton. New Zealanders also own approximately 39% of the Applicant’s parent company, which is an NZX listed company. |
| More information | Ed Dunphy Anthony Harper PO Box 2646 AUCKLAND 1146 |