| Decision | Consent granted Section 13(1)(c) Overseas Investment Act 2005 |
|---|---|
| Decision date | 8 January 2014 |
| Investment | An overseas investment in significant business assets, being the Applicant’s acquisition of property in New Zealand used in carrying on business in New Zealand for consideration exceeding $100m, that property being a leasehold interest in 205 Queen Street Auckland. |
| Consideration | $48,300,000 (first tranche) |
| Applicant | Auckland City Holdings Limited Indonesia (50.0%) Singapore (50.0%) |
| Vendor | Kiwi Property Holdings Limited New Zealand Public (79.77%) Australian Public (20.23%) |
| Background | The Applicant proposes to establish a commercial real estate portfolio in New Zealand. The overseas investment transaction has satisfied the criteria in section 18 of the Overseas Investment Act 2005. |
| More information | Chris Moore/Michael Goodger Greenwood Roche Chisnall P O Box 106006 AUCKLAND |