Applicant
Antipodean Supermarkets Limited
Case number(s)
201010057
Decision date
Type
Decision
DecisionConsent Granted
Section 12(a) Overseas Investment Act 2005
Decision date19 July 2010
Investment

An overseas investment in sensitive land, being the Applicant's acquisition of:

  • a freehold interest in 1.1402 hectares of land at Meadowbank Shopping Centre, Cnr Gerard Way and St Johns Rd, Auckland; and
  • a freehold interest in 1.2317 hectares of land at 16/24 Anzac Road, Browns Bay, Auckland; and
  • a freehold interest in 1.4168 hectares of land at 2-10 and 12-16 Barrys Point Road, Takapuna, Auckland; and
  • a freehold interest in 1.1883 hectares of land at 9 Browne Street, Timaru.
ConsiderationCONFIDENTIAL
ApplicantAntipodean Supermarkets Limited
The William Pears Group of Companies Limited, United Kingdom (except Isle of Man and the Channel Islands) (75.0%)
Jonathan Berman, United Kingdom (except Isle of Man and the Channel Islands) (25.0%)
VendorPerpetual Limited as custodian for the Charter Hall Real Estate Investment Trust
Australia (100%)
Background

The Applicant owns a property portfolio comprising an undivided half share in various supermarket properties (the Portfolio) (refer 200620142).

The Applicant proposes to acquire the remaining half share in four of the supermarket properties contained within the Portfolio.

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
17(2)(a)(iv) – Added market competition/productivity

Overseas Investment Regulations 2005
28(c) – Affect image, trade or international relations
28(e) – Previous investments
28(g) – Enhance the viability of other investments

More informationMark Nicholson
Chapman Tripp (Auckland)
PO Box 2206
AUCKLAND 1140