| Decision | Consent granted |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 12 February 2025 |
| Pathway | Significant business assets |
| Investment | Acquisition of a commercial property on approximately 9 hectares of land located at 38-44 Dalgety Drive, Wiri, Auckland. |
| Consideration | $120,000,000 |
| Applicant | NZ Legacy Limited Partnership |
| Vendor | Gasoline Properties Limited |
| Background | The Applicant is a newly formed special purpose vehicle, 95% of which is ultimately owned by a fund managed by PAG, an alternative investment management firm in the Asia Pacific region. The Applicant is acquiring an industrial warehousing facility located at 38-44 Dalgety Drive, Wiri, Auckland. The land is not sensitive under the Act. The property is currently, and will continue to be, leased out to third parties. This application was subject to a national interest assessment because the Applicant is considered a non-New Zealand Government investor due to the involvement of some non NZ government investors. The Minister of Finance has decided that the Investment is not contrary to New Zealand’s national interest. Consent was granted as the Applicant has met the investor test criterion. |
| More information | Andrew Petersen |