Wilson Parking New Zealand Limited

Decision	Consent granted Section 12(a) Overseas Investment Act 2005
Decision date	21 December 2011
Investment	An overseas investment in sensitive land, being the Applicant's acquisition of a leasehold interest in 4.1802 hectares of land at Princes Wharf, 147 Quay Street Auckland.
Consideration	CONFIDENTIAL
Applicant	Wilson Parking New Zealand Limited Roturbo Pte Ltd, Singapore (100.0%)
Vendor	Metro Wharf Limited Ironwood Trust, New Zealand (50.0%) Wyborn New Investment Trust, New Zealand (50.0%)
Background	The acquisition of the investment is consistent with the Applicant's current business strategy to acquire further car park facilities. The rationale for this strategy is to enable the Applicant to make significant long-term investments in the car park facilities. The overseas investment transaction has satisfied the criteria in section 16 of the Overseas Investment Act 2005. The 'benefit to New Zealand' criterion was satisfied by particular reference to the following factors: Overseas Investment Act 2005 17(2)(a)(i) – Creation/Retention of jobs 17(2)(a)(ii) – New technology or business skills 17(2)(a)(iv) – Added market competition/productivity Overseas Investment Regulations 2005 28(e) – Previous investments 28(g) – Enhance the viability of other investments
More information	Annie Steel Harmos Horton Lusk PO Box 28 Shortland Street AUCKLAND

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