| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Date | 18 February 2016 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 3.7983 hectares of land at 315 Wainui Road, Silverdale, Auckland. |
| Consideration | $3,500,000 |
| Applicant | Trig Hill Road Limited Gull New Zealand Trust, Australia (100.0%) |
| Vendor | Donn Anthony Reid and Annette Helen Reid New Zealand (100%) |
| Background | The Applicant is acquiring the land to develop a Gull service station, which is likely to increase competition in the Silverdale consumer petroleum products market. 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 Act 2005 Overseas Investment Regulations 2005 |
| More information | Greg Woodd Simpson Western Private Bag 93533 Takapuna AUCKLAND |
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