Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
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Decision date | 15 October 2013 |
Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 4 hectares of land at Racecourse Road, Trentham, Upper Hutt. |
Consideration | $3,800,000 |
Applicant | Summerset Holdings Limited New Zealand Public (44.22%) Perpetual Trustee Company Limited, Australia (40.14%) QPE Co-investment Pty Limited, Australia (15.64%) |
Vendor | Agresearch Limited New Zealand Government, New Zealand (100.0%) |
Background | Summerset intends to acquire the land to enable the expansion of the existing adjoining Summerset retirement village "Summerset by the Course". 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 | Jeannie Warnock Greenwood Roche Chisnall PO Box 25501 WELLINGTON 6146 |