| Decision | Consent granted Section 12(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 12 December 2023 |
| Pathway(s) | Sensitive land (incidental residential use test – one off) |
| Investment | Acquisition of a freehold interest in approximately 0.2125 hectares of land at 90, 92 and 94 Thompson Street, Queenstown. |
| Consideration | $4,000,000 |
| Applicant | Continuum Hotel Limited Indonesia 100% |
| Vendor | Rosebank Road Medical Services Limited New Zealand 100% |
| Background | The Applicant, and related company Coherent Hotel Limited, are hotel operators ultimately owned by Perfect Match Investment Limited (Hong Kong). The Applicant owns and operates the Novotel Queenstown Lakeside Hotel and Coherent Hotel Limited owns and operates the Kamana Lakehouse Hotel, Queenstown. The Land currently includes three residential dwellings. The Applicant intends to redevelop the Land to construct 54 new studio rooms to be used as accommodation for staff employed at the Queenstown hotels. The development will enable the Applicant to attract and retain staff by providing a long-term solution to the shortage of staff accommodation options in Queenstown. Consent was granted as the Applicant met the investor test criterion and the investment is likely to result in the incidental residential use outcome. |
| More information | Tessa Baker Chapman Tripp (Auckland) PO Box 2206 AUCKLAND 1140 |