| Decision | Consent granted Section 13(1)(c) Overseas Investment Act 2005 |
|---|---|
| Decision date | 7 November 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 the Lumley Centre, at 88 Shortland Street, Auckland. |
| Consideration | $146,000,000 |
| Applicant | Deka Immobilien Investment GmbH in its capacity as trustee/fund manager of the Deka-ImmobilienGlobal Fund German Public (95.0%) European Public (5.0%) |
| Vendor | Perpetual Trustee Company Limited as Trustee for Dexus Property Group Australian Investors, Australia (41.4%) North American Public (26.7%) United Kingdom Investors, United Kingdom (12.1%) Asian Investors, Various (10.2%) European Investors, Various (9.3%) Various overseas persons (0.3%) |
| Background | The Applicant is acquiring the property to add to its property portfolio. The overseas investment transaction has satisfied the criteria in section 18 of the Overseas Investment Act 2005. |
| More information | Pavanie Edirisuriya/Daniel Arapere DLA Phillips Fox PO Box 160 Shortland Street AUCKLAND 1140 |