Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
---|---|
Decision date | 17 December 2009 |
Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold or a leasehold interest in 1.3381 hectares of land at 22 -30 Putiki Road and 13-19 Belgium Street, Waiheke Island. |
Consideration | Confidential |
Applicant | General Distributors Limited Australia (98.98%) New Zealand (0.78%) Various (0.24%) |
Vendor | Alan John Moore and Wynyard Wood Trustee Services Limited as trustees for the Cory Road Family Trust New Zealand (100.0%) |
Background | The Applicant is seeking to expand its operations across New Zealand and the land is being acquired to enable the Applicant to implement its business investment plans. The acquisition will enable the Applicant to increase its presence on Waiheke Island. 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 | Edward Dunphy Russell McVeagh (Auckland) PO Box 8 AUCKLAND |