| Decision | Consent granted Regulation 5 Overseas Investment Regulations 1995 |
|---|---|
| Decision date | 9 April 2010 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a leasehold interest in 1.9377 hectares of land at 60 Westney Road, Manukau, Auckland. |
| Consideration | CONFIDENTIAL |
| Applicant | Goodman Nominee (NZ) Limited and Goodman Nominee (NZ) No.2 Limited New Zealand Public (52.97%) Australian Public (32.67%) Various overseas persons (14.36%) |
| Vendor | Workstore Developments Limited Balcombe-Langridge (Richard, Glenda Eveleen and Andrew) as trustees of the Chiswick Trust, New Zealand (50.0%) Verissimo (Christopher) as trustee of the Christopher Verissimo Trust, New Zealand (25.0%) Scott (Terrence John) as trustee of the Terrence John Scott Trust, New Zealand (25.0%) |
| Background | On 8 November 2007 (A200720068), consent was granted under a purchasing programme under the Overseas Investment Act 1973 for the Applicant to acquire a leasehold interest in 1.2954 hectares of land to enable the Applicant to undertake a commercial property development on the land. The Applicant will sub-lease the land to Supply Chain Solutions (NZ) Limited (SCS) and Pacific Network Global Logistics Limited (Pacnet) to be utilised for warehouse and distribution facilities. The Applicant has advised that the parties have now agreed to increase the land area to be sub-leased to SCS and Pacnet from 1.2954 hectares to 1.9377 hectares. The overseas investment transaction has satisfied the criteria in Section 14B of the Overseas Investment Act 1973. The 'national interest' criterion was satisfied by particular reference to the following factors: Overseas Investment Act 1973 |
| More information | Ed Crook/Anthea Airey Russell McVeagh (Auckland) PO Box 8 AUCKLAND |