Applicant
James Fletcher Drive Asset Pty Ltd as trustee of the Logos James Fletcher Drive Asset Trust
Case number(s)
202000239
Decision date
Type
Decision
DecisionConsent granted
Section 12(a) Overseas Investment Act 2005
Decision MakerOverseas Investment Office
Decision Date14 August 2020
Pathway(s)Sensitive land – benefit to New Zealand
InvestmentAn overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 17.1495 hectares of land at James Fletcher Drive.
Consideration$188,000,000
ApplicantJames Fletcher Drive Asset Pty Ltd as trustee of the Logos James Fletcher Drive Asset Trust
Singapore (97.00%)
Various (2.10%)
Canada (0.49%)
Australia (0.42%)
VendorToll Networks (NZ) Limited
Government of Japan (100.0%)
Background

The Applicant is in the industrial property business, and is acquiring this  property with the intention of creating a high-quality industrial estate to be leased to industrial tenants.

The Investment is likely to result in the following benefits to New Zealand:

  • Direct and indirect jobs in New Zealand for the construction and management of the industrial estate
  • Additional investment for development being introduced into New Zealand
  • Increase market competition in Auckland’s prime industrial property market
  • Construction of spec-built warehouses with modern features to increase the tenant’s operational efficiency
Reco Otago Private Limited, one of the Applicant’s beneficial owners, has undertaken a previous investment in New Zealand that has been beneficial to New Zealand.
More informationDavid Butler
Russell McVeagh (Auckland)
PO Box 8
AUCKLAND 1140