| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Date | 15 December 2015 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a leasehold interest in approximately 0.4306 hectares of land at Gaunt and Daldy Streets, Auckland. |
| Consideration | $2,992,825 |
| Applicant | Wynyard Precinct No.6 Limited Singapore (49.0%) New Zealand (39.89%) Australia (10.14%) Various overseas persons (0.97%) |
| Vendor | Delcon Holdings (No.15) Limited Various overseas persons (75.0%) New Zealand Public (25.0%) |
| Background | The investment is a joint venture between Reco Aotearoa Private Limited and the Goodman Property Trust. The Applicant will acquire a leasehold interest in a section of land located in the Wynyard Precinct. A commercial office building is to be constructed on the land. 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 Regulations 2005 |
| More information | Ed Crook Russell McVeagh PO Box 8 AUCKLAND |