| Decision | Consent Granted |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 21 February 2025 |
| Pathway | Sensitive land – residential land development (increased housing) |
| Investment | Acquisition of approximately 80% of the shares in Assetz NZ Freedom LL Limited which has an interest in approximately 9 hectares of residential land in Masterton and approximately 11 hectares of residential land in Ashburton. |
| Consideration | $40,000,000 |
| Applicant | Assetz NZ LL Property Pte. Ltd. |
| Vendor | Assetz NZ Freedom LL Limited |
| Background | The Applicant is ultimately owned by funds controlled by AGP Sustainable Real Assets, a fund and asset management firm headquartered in Singapore. This development will be a joint venture between the Applicant and Freedom Group Holdings Limited, a New Zealand developer and operator of lifestyle villages, to develop two lifestyle retirement villages. One in Masterton (approximately 221 dwellings) and one in Ashburton (approximately 255 dwellings). Both developments are expected to have initial stages operational from 2027 and have all stages operational by 2030. Freedom Group Holdings Limited will manage the development, sale and operation of the lifestyle villages. The land in Masterton and Ashburton is currently bare land. Consent was granted as the Applicant has met the investor test criterion and the increased housing test. |
| More information | Glenn Shewan |