Decision number | 200810059 |
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Application number | 200810023 |
Date | 20 June 2008 |
Offeror/applicant | Brookfield Multiplex Developments (NZ) Limited |
Ultimate applicant beneficial ownership | 59.72 percent - Canada, Canadian Public 35.98 percent - United States of America, United States Public 4.3 percent - Various, Various overseas persons |
Beneficial overseas ownership | |
- Asset current | 0 percent |
- Asset proposed | 100 percent |
- Share current | N/A |
- Share proposed | N/A |
Offeree(s)/seller(s) | Strand Investment Properties Limited of New Zealand |
Business activities | Property & Business Services - Property |
Details of land involved | 0.7774 hectares of freehold situated at 6-10 The Strand & 19-29 Hurstmere Road, Takapuna, North Shore City being CTs NA93C/394 and NA135D/560 (North Auckland Registry). |
Regions involved | Auckland |
Total consideration | $13,000,000 |
Consent sought | To acquire an interest in land which, either alone or together with any associated land, exceeds 0.4 hectares and adjoins land that is listed, or in a class listed, as a reserve, a public park, or other sensitive area by the regulator under section 37. |
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 the Investment: Rationale for the Investment:
The proposed investment will or is likely to benefit New Zealand (or any part of it or group of New Zealanders) having regard to the following factors: Overseas Investment Act 2005: Overseas Investment Regulations 2005: |
Contact | Bill Sandston/Alistair Law Chapman Tripp PO Box 2206 Auckland 1140 |