| Decision | Consent Granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 28 February 2011 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a leasehold interest in 0.4000 hectares of land at 772 Colombo Street, Christchurch. |
| Consideration | $46,306,356 |
| Applicant | Bank of New Zealand National Australia Bank Limited, Australia (100.0%) |
| Vendor | Andrew Centre Limited Philip Maurice Carter, New Zealand (50.0%) Michael Joseph Ryan, New Zealand (50.0%) |
| Background | The Bank of New Zealand intends to lease approximately 0.4000 square metres including associated car parks and ancillary facilities on which it will construct its Christchurch head office. The building will incorporate part of the existing historic façade of the previous property located on the site. 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 | Jane Holland Bell Gully PO Box 4199 AUCKLAND 1140 |