| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 20 December 2013 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 6.8972 hectares of land at 92 Three Oaks Drive, Dairy Flat, Auckland. |
| Consideration | $3,930,000 |
| Applicant | Xinxin Trust Xinxin Hao, China, People's Republic of (100%) |
| Vendor | Frank Denton and David Neil Murray as trustees of the F Denton Family Trust New Zealand (100%) |
| Background | Xinxin Hao intends to become ordinarily resident in New Zealand and wishes to acquire property to use as her primary residence. Xinxin Hao has established the Applicant, which, via the Applicant’s sole trustee, Xinxin Trustee Limited, is acquiring the property. Xinxin Hao is the sole director and shareholder of Xinxin Trustee Limited. The overseas investment transaction has satisfied the section 16(1)(e)(i) criterion of the Overseas Investment Act 2005. |
| More information | Winston Wang Winston Wang & Associates 96 Remuera Road Newmarket Auckland |