| Notification | Notification of a transaction under a Standing Consent Section 12(1)(a) and Section 13(1)(c) Overseas Investment Act 2005 |
|---|---|
| Notification number | 3 (of 20) |
| Decision Date | 16 August 2023 |
| Pathway(s) | Residential Land Development- Increased housing (Standing consent) |
| Investment | Acquisition of a freehold interest in approximately 0.2954 hectares of land at Superlot N28, Tonar Street, Northcote, Auckland. |
| Asset Value | $886,950 |
| Applicant | Universal Homes The People’s Republic of China (100%) |
| Vendor | Kāinga Ora New Zealand (100%) |
| Background |
The Consent Holder was granted a residential standing consent under the Increased Housing pathway on 3 April 2020. This permits the Consent Holder to acquire up to 21.5 hectares of land in up to 27 transactions by 3 April 2028. This is the third acquisition of land under the standing consent. The Consent Holder intends to construct 45 dwellings which will be sold as affordable residential homes. 19 of these dwellings will be KiwiBuild Homes. The construction of these dwellings started in July 2022 with completion expected to be in November 2023. The Consent Holder expects some of the dwellings will be ready for sale in July 2023 with all dwellings anticipated to be sold by the start of 2024. |
| More information | Matthew Ockleston Dentons Kensington Swan 18 Viaduct Harbour Ave Auckland 1010 |