Applicant
General Distributors Limited
Case number(s)
201120036
Decision date
Type
Decision
DecisionConsent granted
Section 12(a) Overseas Investment Act 2005
Decision date15 November 2011
InvestmentAn overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 3.1940 hectares of land at 44 & 50 Bureta Road, Otumoetai, Tauranga.
ConsiderationCONFIDENTIAL
ApplicantGeneral Distributors Limited
VendorBureta Park Motor Inn Limited & The Brian Perry Charitable Trust
New Zealand (100%)
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 in the Otumoetai area.

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)(i) – Creation/Retention of jobs
17(2)(a)(iv) – Added market competition/productivity
17(2)(a)(v) – Additional investment for development purposes
17(2)(e) – Walking Access

Overseas Investment Regulations 2005
28(a) – Consequential Benefits
28(e) – Previous investments
28(g) – Enhance the viability of other investments
28(j) – Mitigating Factor

More informationEdward Dunphy
Russell McVeagh (Auckland)
PO Box 8
AUCKLAND