| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 21 August 2019 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 3.0915 hectares of land at 86 and 96 Arataki Road, Havelock North, Hawkes Bay. |
| Consideration | $3,206,255 |
| Applicant | CDL Land New Zealand Limited New Zealand Public (38.897%) Singapore Public (23.1462%) Various overseas persons (11.0858%) Hong Leong Group, Singapore (9.5776%) Citibank Nominees Singapore Pte Ltd, Singapore (4.6371%) United Kingdom Public (3.2788%) International Value Advises, LLC, United States of America (3.2717%) DBS Nominees Pte Ltd, Singapore (2.5826%) DBSN Services Pte Ltd, Singapore (1.8087%) BNP Paribas Securities Services, Singapore (1.7146%) |
| Vendors | R W Satherley Family Trust Craig Hamish Satherley & Mason Ronald Satherley |
| Background | This consent has been granted in accordance with the increased housing test set out in Schedule 2(11) of the Act. The Applicant is a residential property developer. The land is residential (but not otherwise sensitive) land. The land will be used in conjunction with nearby land (including that which has previously been consented to under the Act) to construct a new residential housing development. |
| More information | Andrew Petersen Bell Gully PO Box 4199 AUCKLAND 1140 |