| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 31 August 2009 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 2.5765 hectares of land at 69 McLaughlins Road, Wiri, Manukau City, South Auckland. |
| Consideration | $5,797,125 |
| Applicant | Landplan Property Partners Manukau Limited as trustee of the Landplan Property Partners Manukau Trust United States of America (100.0%) |
| Vendor | McLaughlins Road Properties Limited New Zealand (100.0%) |
| Background | The land at McLaughlins Road is situated adjacent to an existing property owned by the Applicant on which it is intended to undertake a commercial/industrial property development. The acquisition of the McLaughlins Road property will assist in facilitating the Applicant’s proposed commercial/industrial property development by providing alternative access options to the Applicant's existing land. 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 | Andrew Monteith Minter Ellison Rudd Watts (Auckland) PO Box 3798 AUCKLAND 1140 |