| Decision |
Consent granted |
|---|---|
| Decision maker | Overseas Investment Office |
| Decision date | 16 August 2022 |
| Pathway(s) | Residential land development (Non-residential use - One-off purchase) |
| Investment | Acquisition of 10.3680 ha at 1121 Great South Road, Drury, Auckland (the Land) |
| Asset Value | $27,475,200 |
| Applicant |
BRO Tonganui Limited |
| Vendor |
CD Vernon Trustee Limited as trustee of the CD Vernon Trust |
| Background |
The Applicant is a newly incorporated entity created for the purpose of acquiring the Land and undertaking a commercial and industrial development of the Land. The Land is sensitive (residential only) and is held on one property title. It is currently used commercially as it is leased to various industrial tenants. The Applicant has broader plans to develop the Land in accordance with a supplied Masterplan which shows the land subdivided with warehouses and offices to be constructed. The Land will continue to be used for commercial operations. The relevant business of the Applicant does not include the use of the Land as residential property. The Land will be fully utilised for non-residential purposes. |
| More information |
Daniel Williams |