| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Date | 22 December 2015 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 1.6514 hectares of land at 207 West Hoe Heights, Orewa, Auckland. |
| Consideration | $2,280,000 |
| Applicant | Changda International New Zealand Limited China Public (42.0%) Chuanqing Wang, China, People's Republic of (18.0%) Pengqiang Xu, China, People's Republic of (12.0%) Jinxing Xue, China, People's Republic of (10.0%) Jiuzhou Zhu, China, People's Republic of (6.0%) Yin Wang, China, People's Republic of (4.0%) Youming Yang, China, People's Republic of (2.0%) Zhigang Xue, China, People's Republic of (2.0%) Lijie Qu, China, People's Republic of (2.0%) Chuanxiao Wang, China, People's Republic of (2.0%) |
| Vendor | Andrew Ross MacLennan, Pamela Anne MacLennan and MacLennan Trustee Services Limited as trustees of the MacLennan Family Trust New Zealand (100%) |
| Background | The Applicant will use the Land to support its development of residential housing and complementary facilities at Sunnyheights Road, Orewa, Auckland. The main purpose for the acquisition is to create more effective access within the development by constructing a road across the land that connects its east and west 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 Act 2005 Overseas Investment Regulations 2005 |
| More information | Martin Thomson and Sherryn Harford DLA Piper PO Box 160 AUCKLAND |