| Decision | Consent granted |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 13 December 2024 |
| Pathway | Sensitive land - Benefit to New Zealand |
| Investment | Acquisition of a freehold interest in approximately 6.5420 hectares of land at 52 Gordonton Road, Puketaha, Hamilton |
| Consideration | $13,260,870 |
| Applicant | CDL Land New Zealand Limited |
| Vendor | Barry Wayne Rabarts and Sonia Heather Rabarts |
| Background | The Applicant is a residential property developer with investments throughout New Zealand. The Applicant is a subsidiary of NZX-listed CDL Investments New Zealand Limited. The land is currently used as a residential home. The Applicant will integrate the land with its adjoining land and will use both to carry out a residential subdivision development. Part of the land will be used to create 138 residential lots to be on sold on the open market. The remaining land area will be used for roading and stormwater purposes to support the residential subdivision. The main benefits to New Zealand are likely to include increased capital expenditure, and support government's housing policy. Consent was granted as the Applicant has met the investor test criterion and and the Investment is likely to benefit New Zealand. |
| More information | Andrew Petersen |
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