Applicant
Sunny Development New Zealand Limited
Case number(s)
202100009
Decision date
Type
Decision
DecisionConsent granted
Section 12(a) Overseas Investment Act 2005
Decision MakerOverseas Investment Office
Decision Date7 May 2021
Pathway(s)Residential land development (Increased housing - One-off purchase)
InvestmentAn overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest 0.5224 hectares of land at 6, 8, 10A, 10B, 12,12A and 14 Meadowbank Road, Meadowbank, Auckland. 
Asset ValueWithheld under s9(2)(b)(ii) of the Official Information Act 1982
ApplicantSunny Development New Zealand Limited
People's Republic of China (57.60%)
Various overseas persons (33.49%)
Hong Kong (SAR) (8.91%)
VendorMeadowbank Developments Limited
Background

The Applicant is acquiring residential land at Meadowbank Road in Meadowbank, Auckland.

To meet the increased housing test, the Applicant proposes to remove the eight existing dwellings on the land and undertake a new residential development consisting of at least 68 residential dwellings.

We consider the Investment is likely to:
•    meet 1 or more of the increased housing outcomes, being an increase in the number of residential dwellings constructed on the residential land;
•    meet the on-sale outcome, which means the Applicant must on-sell all interests in the residential land by 31 March 2024; and
•    meet the non-occupation outcome, which means the Applicant or certain related persons must not occupy the land. 

More informationTessa Baker
Chapman Tripp (Auckland)
PO Box 2206 AUCKLAND 1140