| Notification | Section 23A Overseas Investment Act 2005 Schedule 4(2) – Residential land – standing consent |
|---|---|
| Notification number | 10 (of 10) |
| Date | 22 November 2022 |
| Investment | An overseas investment in residential-only sensitive land, being the Applicant's acquisition of a freehold interest in approximately 7.20175 ha of Land at 71 Trig Road, Whenuapai, Auckland (the Land). |
| Consideration | $18,688,000 |
| Applicant | Neil Group Limited Malaysia (80%) Singapore (20%) |
| Vendor | Robert Ming Family 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 tenth acquisitions of land under the standing consent. The Applicant is undertaking a residential subdivision on the Land. The Applicant intends to incorporate the land into the Whenuapai Business Park by the consent holder. The land is being subdivided into large industrial sites for use in generating employment to support surrounding residential development. This is a non-residential use in the ordinary course of business. The applicant has consent to undertake bulk earthworks on the land to achieve this. Under the standing consent the Applicant must increase the number of dwellings on the land, or undertake development works to support, and must divest all interests in the sensitive land within 10 years of acquisition. |
| More information | Glaister Ennor PO Box 63 Shortland Street Auckland |