| Notification | Section 23A Overseas Investment Act 2005 Schedule 4(2) – Residential land – standing consent |
|---|---|
| Notification number | 1 (of 10) |
| Decision Date | 26 August 2020 |
| Investment | An overseas investment in residential-only sensitive land, being the Applicant's acquisition of a freehold interest in approximately 0.069 hectares of land located at 57 Ventry Street, Alexandra, Otago. |
| Consideration | $525,000 |
| Applicant | General Distributors Limited Australian Public (99.45%) Various (0.55%) |
| Vendor | Wayne Vince Tily and Susan Tily |
| Background |
The Applicant was granted a standing consent based on the non-residential use test on 13 November 2019. This permits the Applicant to acquire up to 75 hectares of residential (but not otherwise sensitive) land in up to 10 transactions by 1 December 2022. The land was acquired on 6 December 2019 and is the first acquisition under the standing consent. Under the standing consent the Applicant must use any land acquired for non-residential use in the ordinary course of its business. The Applicant has acquired the land to enable the construction of a new supermarket. |
| More information | Julie Nisbet Woolworths New Zealand 80 Favona Road Mangere AUCKLAND 2024 |