| Decision | Consent Granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Date | 21 June 2016 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately:
|
| Consideration | $2,350,000 |
| Applicant | Fletcher Concrete and Infrastructure Limited Various overseas persons (37.26%) New Zealand Public (27.46%) Australian Public (19.65%) North American Public (15.63%) |
| Vendor | Bryan Patrick Casey, Elaine Hazel Casey and Lynette Maree Duncan New Zealand (100%) Charles Gabriel Tioriori and Wendy Maree Aitken New Zealand (100%) |
| Background | The Applicant owns a quarry in Hunua known as the ‘Hunua Quarry’ which supplies aggregate to various building and roading industries in the Auckland market. The Applicant has been granted consent to acquire a freehold interest in two adjoining parcels of residential land in order to act as a natural noise buffer, allowing the Hunua Quarry to increase their hours of quarrying operation. 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 | Chris Bougen Senior Legal Counsel Fletcher Building Limited Private Bag 92114 AUCKLAND 1142 |