| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 5 November 2013 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 5.5775 hectares of land at 4 Hobsonville Road, Hobsonville. |
| Consideration | $4,600,000 |
| Applicant | CDL Land New Zealand Limited New Zealand Public (44.4972%) Hong Leong Group, Singapore (28.0263%) Singapore Public (19.1966%) Various overseas persons (7.601%) United Kingdom Public (0.6788%) |
| Vendor | The Crown New Zealand (100.0%) |
| Background | Pursuant to section 40 of the Public Works Act 1981, the Applicant is acquiring land. It intends to develop the land into residential sections. The overseas investment transaction has satisfied the criteria in section 16 of the Overseas Investment Act 2005. The 'substantial and identifiable benefit to New Zealand' criteria were satisfied by particular reference to the following factors: Overseas Investment Regulations 2005 |
| More information | Takeshi Ito CDL Land New Zealand Limited PO Box 3248 AUCKLAND |