| Decision number | 200710062 |
|---|---|
| Application number | 200710069 |
| Date | 5 June 2007 |
| Offeror/applicant | CDL Land New Zealand Limited |
| Ultimate applicant beneficial ownership | 54.8345 percent - New Zealand, New Zealand Public 23.6261 percent - Singapore, Hong Leong Group 21.5394 percent - Singapore, Singapore Public |
| Beneficial overseas ownership | |
| - Asset current | 0 percent |
| - Asset proposed | 45.1655 percent |
| - Share current | N/A |
| - Share proposed | N/A |
| Offeree(s)/seller(s) | Alpine View Lifestyle Village Limited of New Zealand |
| Business activities | Property & Business Services - Property |
| Details of land involved | 5.47 hectares of freehold situated at 440 Prestons Road, Christchurch being Part CT 301257 (Canterbury Registry). |
| Regions involved | Canterbury |
| Total consideration | $2,148,750 |
| Consent sought | To acquire an interest in land which, either alone or together with any associated land of that type, is or includes non-urban land and exceeds 5 hectares in area. |
| Rationale | The application has been approved as it met the criteria. The Overseas Investment Office is satisfied that the individuals with control of the Applicant collectively have business experience and acumen relevant to the overseas investment, and that the Applicant has demonstrated financial commitment towards the overseas investment. The Overseas Investment Office is further satisfied that each individual that exercises control over the Applicant is of good character and is not an individual of the kind referred to in section 7(1) of the Immigration Act 1987. Outline of Proposed Development Rationale for Proposed Development Our Assessment
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| Contact | Takeshi Ito CDL Land New Zealand Limited PO Box 3248 AUCKLAND 1 |