Overseas investment decision for case 201210072 - SecureFuture Wiri Limited

An overseas investment in sensitive land, being the Applicant's acquisition of a leasehold interest in 19.8078 hectares of land located at 20 Hautu Drive, Manukau, Auckland (being the site of the new Wiri Prison);

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.

The sensitive land has been set aside by the Department of Corrections for the construction of the new Wiri Prison. The Department has entered a public private partnership with the Applicant to design, build and operate the new prison.

The overseas investment transaction has satisfied the criteria in sections 16 and 18 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
17(2)(a)(i) – Creation of jobs
17(2)(a)(ii) – New technology or business skills
17(2)(a)(iv) – Added market competition/productivity
17(2)(b) – Indigenous Vegetation/Fauna

Overseas Investment Regulations 2005
28(a) – Consequential Benefits
28(c) – Affect image, trade or international relations
28(f) – Advance significant government policy or strategy
28(j) – Mitigating Factor