| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 8 August 2019 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 1.2267 hectares of land at 100 Park Terrace and 20 Dorset Street Christchurch. |
| Consideration | $6,380,001 |
| Applicant | Ryman Healthcare Limited New Zealand Public (44.71%) United States Public (13.0%) Geoffrey Alexander Cummings, New Zealand (10.19%) Kevin James Hickman, New Zealand (7.0%) German Public (6.6%) Australian Public (5.0%) Various Overseas Persons (13.5%) |
| Vendor | Social Service Council of the Diocese of Christchurch trading as Anglican Care (Canterbury-Westland) New Zealand (100%) |
| Background | The Applicant has operated retirement villages in New Zealand since 1984 and has 32 retirement villages across New Zealand. Its retirement villages offer a range of types of care including independent living, assisted living, rest home care, hospital care and dementia care. The Applicant intends to develop a comprehensive care retirement village on the land that will be made up of approximately 176 residential units. Once construction is complete, approximately 40 full time jobs will be created in order to provide retirement village services to residents. The Applicant is listed on the NZX and has 61.9% New Zealand ownership. |
| More information | Andrew Woods Chapman Tripp PO Box 2510 CHRISTCHURCH |