| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Makers | The Associate Minister of Finance and the Minister for Land Information |
| Decision Date | 16 August 2021 |
| Pathways | Benefit to New Zealand (Benefit to New Zealand - S&I) National Interest assessment |
| Investment | 20.4519 hectares of land located at Clevedon-Kawakawa Road, Clevedon, Auckland |
| Consideration | Withheld under s9(2)(b)(ii) of the Official Information Act 1982 |
| Applicant | Metlifecare Limited 100% owned by EQT Partners Infrastructure Fund IV, which is 100% overseas owned. No one entity holds more than 5% of this fund. |
| Vendor | Clevedon Village Development Custodians Limited New Zealand (100%). |
| Background | The Applicant is a large aged care provider. It intends to acquire the land located in Clevedon for the development and operation of a retirement village. The main benefits to New Zealand from the investment include the creation of jobs and the introduction of capital expenditure as a result of the construction and operation of the retirement village. The Ministers granted consent as they considered the Applicant to have met the investor test and the benefit likely to occur as a result of the investment to be substantial and identifiable. The Minister of Finance has determined that the Investment is not contrary to New Zealand’s national interest. |
| More information | Andrew Petersen Bell Gully PO Box 4199 AUCKLAND 1140 |