| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Date | 14 December 2017 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 46.0188 hectares of land at 42A Puketaha Road, Puketaha, Hamilton (“Land”). |
| Consideration | $23,000,000 |
| Applicant | CDL Land New Zealand Limited New Zealand Public (38.897%) Hong Leong Group, Singapore (24.4489%) Singapore Public (22.2896%) Various overseas persons (11.0858%) United Kingdom Public (3.2788%) |
| Vendor | Geange Farms Limited New Zealand (100%) |
| Background | The Applicant’s business is the acquisition and development of land from an undeveloped form to residential housing sections. The Applicant plans to develop the Land into a modern high quality residential subdivision and sell the sections on the open market. The subdivision is intended to include supporting open space, commercial and social activities. The Applicant has a number of previous investments in New Zealand, which have created jobs throughout New Zealand and residential housing sections, including in Auckland, Christchurch and Hamilton. New Zealanders also own approximately 39% of the Applicant’s parent company, which is an NZX listed company. |
| More information | Andrew Petersen Bell Gully PO Box 4199 AUCKLAND 1140 |