| Decision |
Consent granted |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 18 September 2023 |
| Pathway(s) | Sensitive land – Benefit test |
| Investment | Acquisition of a freehold interest in approximately 26.7959 hectares of sensitive land at 358 and 358E Worsleys Road, Christchurch, New Zealand |
| Consideration | $5,537,200 |
| Applicant |
CDL Land New Zealand Limited |
| Vendor | Oxford Finance Limited New Zealand (96%) Various (4%) |
| Background |
The Applicant is a subsidiary of NZX listed CDL Investments New Zealand Limited. It undertakes residential subdivision developments throughout New The land is currently bare land. The Applicant intends to use the land to carry out a residential subdivision development that will create new sections to support 60 additional housing units. The main benefits to New Zealand are likely to include retention of jobs, increased investment for development purposes, and support of government policy relating to housing. Consent was granted as the Applicant has met the investor test criterion and the benefit likely to occur as a result of the Investment will result in benefit to New Zealand. |
| More information |
Andrew Petersen |