| Notification | Section 23A Overseas Investment Act 2005 Schedule 4(2) – Residential land – standing consent |
|---|---|
| Notification number | 6 (of 12) |
| Date | 19 December 2022 |
| Investment | Acquisition of a freehold interest in 8.6274 hectares of Land at Jellicoe Road, Pukekohe, Auckland. |
| Consideration | $23,000,000 |
| 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 | Searle Heights Limited |
| Background |
Metlifecare Limited was granted a standing consent based on the Increased Housing test on 12 June 2019. This permits Metlifecare Limited, or any joint venture with a non-overseas person, in which Metlifecare Limited holds at all times at least a 50% ownership and control interest, such as the Applicant, to acquire up to a total of 120 hectares of residential (but not otherwise sensitive) land in up to 12 transactions by 13 June 2022. This is the sixth acquisition of land under the standing consent. The Applicant intends to use the land to develop a retirement village and aged care facility. The consent holder is planning to commence civil/building works in early 2024 with complete Stage 1 (villas) Mid 2025. |
| More information | Andrew Peskett Metlifecare PO Box 37463 Auckland 1151 |