| Decision | Consent granted Section 13(1)(c) Overseas Investment Act 2005 |
|---|---|
| Decision date | 1 May 2013 |
| Investment | An overseas investment in significant business assets, being the Applicant’s acquisition of property in New Zealand used in carrying on business in New Zealand for consideration exceeding $100m, that property HBSC House situated at 1 Queen Street, Auckland. |
| Consideration | $103,000,000 |
| Applicant | Precinct Properties New Zealand Limited New Zealand Public (73%) United Arab Emirates Public (19%) Various overseas persons (8%) |
| Vendor | No. 1 Queen Limited New Zealand (100%) |
| Background | The proposed investment will allow the Applicant to continue to build its portfolio of quality commercial office properties in New Zealand. The overseas investment transaction has satisfied the criteria in section 18 of the Overseas Investment Act 2005. |
| More information | Matthew Carroll Chapman Tripp PO Box 2206 AUCKLAND 1140 |