| Notification | Notification of a transaction under a Standing Consent Section 12(1)(a) and Section 13(1)(c) Overseas Investment Act 2005 |
|---|---|
| Notification number | 4 (of 20) |
| Decision Date | 30 August 2023 |
| Pathway(s) | Residential Land Development- Increased housing (Standing consent) |
| Investment | Acquisition of a freehold interest in approximately 0.1012 hectares of land at 17 Puriri Park Road, Whangarei. |
| Asset Value | $795,000 |
| 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 | Joan Grace van Rooyen, George Peter Swanepoel and Oaklaw Trustees Limited as Trustees of the JG van Rooyen Family Trust New Zealand (100%) |
| Background |
The Consent Holder was granted a residential standing consent under the Increased Housing pathway on 20 July 2022. This permits the Consent Holder to acquire up to 300 hectares of land in up to 25 transactions by 20 July 2027. This is the fourth acquisition of Land under the standing consent. The Consent Holder intends to redevelop the land to construct 3 single story 2–3-bedroom dwellings which will be sold to residents of the retirement village. The Consent holder is still in the process of gaining resource consent. The construction of these dwellings is to start in 2026 with completion expect to be in 2027. |
| More information | Andrew Petersen Bell Gully PO Box 4199 Auckland 1140 |