| Decision | Consent granted Section 12(b) Overseas Investment Act 2005 |
|---|---|
| Decision Date | 17 October 2016 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of rights or interests in a further 45.5% of the units of Hawken Lane Development LP which owns or controls a freehold interest in approximately 11.3864 hectares of land at 3-4 Jack Hawken Lane, Silverdale, Auckland. |
| Consideration | $7,280,000 |
| Applicant | Diamond Wheel Limited Zhaoxi Lu, China, People's Republic of (100%) |
| Vendor | Kaha Management Limited as trustee of the Kaha Investment Trust Cho Kin Wong and Family, New Zealand (100%) |
| Background | Mr Zhaoxi Lu, the director and sole shareholder of the Applicant, intends to migrate to New Zealand and reside in New Zealand indefinitely. The Applicant currently owns 24.5% of the units in Hawken Lane Development LP and seeks to increase its ownership. Hawken Lane Development LP is undertaking a large-scale subdivision project at Silverdale, Auckland. The overseas investment transaction has satisfied the criterion in section 16(1)(e)(i) of the Overseas Investment Act 2005. |
| More information | Ewe Leong Lim Anthony Harper PO Box 2646 AUCKLAND 1146 |