Decision | Consent Granted |
|---|---|
Decision Maker | Overseas Investment Office |
Decision Date | 1 May 2018 |
Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a leasehold interest in 2.2355 hectares of land at 53-55 McLaughlins Road, Wiri, Auckland. |
Consideration | $500,000 plus GST (per annum) |
Applicant | Fletcher Distribution Limited |
Vendor | Fishkill Management Limited |
Background | Fletcher Distribution Limited is the retail trading arm and wholly owned indirect subsidiary of Fletcher Building Limited, trading under the name PlaceMakers and traces its history in New Zealand back to 1910 (as Fletcher Merchants Limited). The land is currently occupied by the Applicant under a lease since 13 November 2000 (“Lease”). The Investment is therefore a renewal and variation of the Lease. Fletcher Distribution Limited and Fletcher Building Limited’s related entities have a history of previous investments that have been of benefit to New Zealand. The Investment will enable the Applicant to continue to carry out its frames and trusses manufacturing business without a delay or disruption of relocating to a new site. The Investment is likely to provide greater certainty for the Applicant’s business, including the retention of jobs and greater efficiency and productivity. |
More information | Jane Holland |