| Decision | Standing Consent (Increased Housing & Non-Residential Use tests) granted Sections 12(a) and 23A Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 18 April 2019 |
| Investment | Overseas investments in sensitive land, being the Applicant's acquisition of freehold interests in residential (but not otherwise sensitive) land. |
| Consideration | Not yet determined |
| Applicant | Fletcher Residential Limited New Zealand Public (52.84%) Australian Public (45.82%) Various overseas persons (1.34%) |
| Vendor | Not yet determined |
| Background | The Applicant is a residential housing developer that acquires residential land to develop into residential housing. This standing consent has been granted in accordance with the Increased Housing and Non-Residential Use tests set out in Schedule 2 of the Act. This standing consent (for a maximum of 12 transactions by 1 May 2022) will permit the Applicant to acquire up to 200 hectares of yet to be identified residential (but not otherwise sensitive) freehold land located in the Auckland, Canterbury and Waikato regions. |
| More information | Gregory Allen Simpson Grierson Private Bag 92518 AUCKLAND 1141 |