Applicant
Wilson Parking New Zealand Limited
Case number(s)
201120048
Decision date
Type
Decision
DecisionConsent granted
Section 12(a) Overseas Investment Act 2005
Decision date21 December 2011
InvestmentAn overseas investment in sensitive land, being the Applicant's acquisition of a leasehold interest in 4.1802 hectares of land at Princes Wharf, 147 Quay Street Auckland.
ConsiderationCONFIDENTIAL
ApplicantWilson Parking New Zealand Limited
Roturbo Pte Ltd, Singapore (100.0%)
VendorMetro Wharf Limited
Ironwood Trust, New Zealand (50.0%)
Wyborn New Investment Trust, New Zealand (50.0%)
Background

The acquisition of the investment is consistent with the Applicant's current business strategy to acquire further car park facilities. The rationale for this strategy is to enable the Applicant to make significant long-term investments in the car park facilities.

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)(ii) – New technology or business skills
17(2)(a)(iv) – Added market competition/productivity

Overseas Investment Regulations 2005
28(e) – Previous investments
28(g) – Enhance the viability of other investments

More informationAnnie Steel
Harmos Horton Lusk
PO Box 28
Shortland Street
AUCKLAND