| Notification | Notification of a transaction under a Standing Consent Section 12(1)(a) and Section 13(1)(c) Overseas Investment Act 2005 |
|---|---|
| Notification number | 10 (of 15) |
| Decision date | 16 May 2025 |
| Pathway | Residential land development (Standing consent) |
| Investment | Acquisition of a freehold interest in approximately 0.1683 hectares at Corner Argent Lane Extension and Parish Drive, Milldale, Auckland |
| Asset value | $1,892,872 |
| Applicant | Fletcher Residential Limited Australia 56% New Zealand 21% United States of America 13% United Kingdom 5% Various 5% |
| Vendor | Fulton Hogan Land Development Limited |
| Background | The Consent Holder is a residential housing developer. A residential standing consent was granted under the Increased Housing and Non-residential Use tests on 3 March 2021. This permits the Consent Holder to acquire up to 200 hectares of land in up to 15 transactions by 31 December 2028. This is the tenth transaction under the standing consent. The Consent Holder intends to build 12 new residential dwellings on the land. The Consent Holder expects to complete the subdivision and development of all residential lots by 30 June 2025. The onward sale of the dwellings is expected to be completed by 28 February 2026. |
| More information | Greg Allen Simpson Grierson 151 Cambridge Terrace City Central Christchurch 8013 |