| Notification | Section 23A Overseas Investment Act 2005 Schedule 4(2) – Residential land – standing consent |
|---|---|
| Notification number | 4 (of 10) |
| Date | 7 July 2022 |
| Investment | An overseas investment in residential-only sensitive land, being the Applicant's acquisition of a freehold interest in approximately 0.1351ha of Land at 11 Kauri Road, Whenuapai, Auckland (the Land). |
| Consideration | $2,000,000 |
| Applicant | Neil Group Limited Malaysia (80%) Singapore (20%) |
| Vendor | Highwind investments Trust |
| Background |
The Applicant was granted a standing consent based on the increased housing and non-residential use tests on 6 September 2019. This permits the Applicant to acquire up to 400ha of residential (but not otherwise sensitive) land in up to 10 transactions by 1 September 2022. This is the fourth acquisition of land under the standing consent. Under the standing consent the Applicant must use the Land for non-residential use in the ordinary course of its business. The Land has been acquired to enable construction access through the eastern side of the Land in order for the disposal of storm water directly into the Waiarohia Stream from an associated residential development of the Applicant. |
| More information | Deirdre Norris Glaister Ennor PO Box 63, Shortland Street Auckland |