| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 21 September 2012 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 1.7158 hectares of land at 10 and 28 Corinthian Drive, 18 Oracle Drive and 1 William Laurie Place, Albany, Auckland. |
| Consideration | $3,800,000 |
| Applicant | Goodman (Paihia) Limited Australian Public (77.0%) Chinese Government, China, People's Republic of (17.8%) APG Asset Management, United States of America (3.1%) Abu Dhabi Investment Council, United Arab Emirates (2.1%) |
| Vendor | NZ Property Finance Partners Goldman Sachs, United States of America (50.0%) Canadian Public (30.75%) United States Public (9.75%) Kuwait Public (8.0%) United Kingdom Public (0.5%) European Public (0.5%) Australian Public (0.5%) |
| Background | The Applicant is acquiring the land to develop as a commercial office and industrial estate. 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 | Ed Crook Russell McVeagh PO Box 8 AUCKLAND |