| Decision | Consent granted Section 12(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Toitū Te Whenua Land Information New Zealand |
| Decision Date | 2 August 2023 |
| Pathway(s) | Sensitive land – Residential land development (one off) |
| Investment | Acquisition of a freehold interest in approximately 9.5 ha at 72 Exploration Way Whitby, Porirua. Acquisition of a freehold interest in approximately 1.2 ha at 4 Wheelhouse Lane, Whitby, Porirua. |
| Consideration | $15,750,000 for 72 Exploration Way Whitby, Porirua. $3,500,000 for 4 Wheelhouse Lane, Whitby, Porirua. |
| Applicant | Bupa Care Services NZ Limited and Bupa Retirement Villages Limited United Kingdom (100%) |
| Vendor |
Progeni Limited David William Harpham and Sheryn Naomi Harpham |
| Background |
The Applicants are New Zealand incorporated entities which are indirect subsidiaries of the British United Provident Association Limited. They specialise in acquiring or constructing retirement villages and care homes in New Zealand, of which they operate and provide related services. The Applicants are seeking consent to acquire the land for the purpose of constructing and operating a retirement village and care home. Consent was granted to this investment as the Applicant met the investor test criterion and the investment is likely to meet the increased housing test. |
| More information | David Gilbert Minter Ellison Rudd Watts (Auckland) PO Box 3798 Auckland 1140 |