Decision Summary - Bunnings Limited
| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 28 September 2009 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 7.6410 hectares of land at 2182 East Coast Rd, Silverdale. |
| Consideration | $3,262,500 |
| Applicant | Bunnings Limited Australia (99.43%), New Zealand (0.36%), Various (0.21%) |
| Vendor | The New Zealand Guardian Trust Company Limited Australia (100.0%) |
| Background | The Applicant proposes to establish a Bunnings warehouse store on the property which will provide home and garden improvement products, and building materials and services to retail and trade customers. The overseas investment transaction has satisfied the criteria in section 16 of the Overseas Investment Act 2005. The 'substantial and identifiable benefit to New Zealand' criteria were satisfied by particular reference to the following factors:
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| More information | Greg Towers Simpson Grierson (Auckland) Private Bag 92518 Wellesley Street AUCKLAND |
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