| Decision | Consent granted Section 13(1)(b) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 14 April 2022 |
| Pathway(s) | Significant business assets only |
| Investment | Establishing a retail home furnishings and distribution business in New Zealand |
| Cost of Commencing Business | $407,000,000 |
| Applicant | IKEA New Zealand Limited Netherlands (100%) |
| Vendor | Not Applicable |
| Background | The Applicant was incorporated in New Zealand for the purposes of the proposed transaction. The Applicant proposes to establish a retail home furnishings and distribution business in New Zealand with an opening date in December 2024. The property on which the business is expected to be established is located adjacent to the Sylvia Park Shopping Centre on Carbine Road and Clemow Drive, Mount Wellington in Auckland (Property). The Property is not sensitive land for the purposes of the Overseas Investment Act. The Overseas Investment Office is satisfied that the investor test has been met. |
| More information | Andrew Monteith Minter Ellison Rudd Watts PwC Tower Level 22 15 Customs Street West Auckland 1010 |
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