| Decision | Consent granted Sections 12(a) and 23A Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 29 May 2025 |
| Pathway | Sensitive land - Residential land development (standing consent) |
| Investment | Overseas investments to be made in residential (but not otherwise sensitive) land |
| Applicant | Arvida Limited Asia 43% Middle East 38% North America 13% Various 6% |
| Vendor | Not yet determined |
| Background | A standing consent has been granted to the Applicant and its wholly owned subsidiaries. The Applicant is a retirement village operator with 36 retirement communities in New Zealand. It is ultimately owned by the Stonepeak Asia Infrastructure Fund, managed by the New York based investment firm Stonepeak Partners LP. The standing consent will permit the Applicant and its subsidiaries to acquire up to 450 hectares of residential (but not otherwise sensitive) freehold land across New Zealand by 31 May 2028. The land may be used for up to 15 developments. The Applicant must use the land to develop new residential dwellings as part of retirement villages developments. The land may also be used for non-residential use in support of these developments. The Applicants and their associates must not occupy land acquired under this standing consent. |
| More information | Guy Bidwill Chapman Tripp PO Box 2206 AUCKLAND 1140 |