Applicant
Grand Arc Land Development Limited
Case number(s)
202200296
Decision date
Type
Decision
Decision

Consent granted
Section 12(1)(a) Overseas Investment Act 2005
Decision maker Toitū Te Whenua Land Information New Zealand
Decision date 12 October 2022
Pathway(s) Residential land development (Increased housing - One-off purchase)
Investment 140 Prestons Road, Marshland, Christchurch
Consideration Withheld under section 9(2)(b)(ii) of the Official Information Act 1982
Applicant

Grand Arc Land Development Limited
China (100%)
Vendor

Christchurch City Council
New Zealand (100%)
Background

The Applicant is an experienced residential housing developer both in New Zealand and overseas. The Applicant intends to acquire the land in order to undertake development works to enable an increase in the number of residential dwellings constructed on the land.

We are satisfied that the Applicant, the relevant overseas persons and the individuals with control of the overseas persons are suitable persons to invest in New Zealand.

We consider the Investment is likely to: 

  • meet one of the increased housing outcomes - being the undertaking of development works to support the construction of approximately 91 new residential dwellings; 
  • meet the on-sale outcome - which means that after completing the development the Applicant must on-sell all interests in the land; 
  • meet the non-occupation outcome - which means the Applicant and certain related persons must not occupy the part of the land being used to increase housing.
More information

Tessa Baker
Chapman Tripp (Auckland)
PO Box 2206
Auckland 1140