| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 12 December 2014 |
| Investment | An overseas investment in sensitive land, being the Applicant’s acquisition of a freehold interest in approximately 3.6907 hectares of land at 172A Don Buck Road, Massey, Auckland. |
| Consideration | $19,661,739 |
| Applicant | Fletcher Residential Limited Australian Public (34.27%) New Zealand Public (31.52%) North American Public (18.29%) Various overseas persons (15.92%) |
| Vendor | Birdwood Residential Estates Limited New Zealand (100%) |
| Background | The vendor intends to subdivide the land into approximately 76 residential lots. The Applicant intends to acquire the lots from the vendor and create residential housing on the lots. The overseas investment transaction has satisfied the criteria in section 16 of the Overseas Investment Act 2005. The 'benefit to New Zealand' criterion was satisfied by particular reference to the following factors: Overseas Investment Act 2005 Overseas Investment Regulations 2005 |
| More information | Greg Allen Simpson Grierson Private Bag 92518 AUCKLAND 1141 |