| Notification | Section 23A Overseas Investment Act 2005 Schedule 4(2) – Residential land – standing consent |
|---|---|
| Notification number | 2 (of 10) |
| Decision date | 16 December 2021 |
| Investment | An overseas investment in residential-only sensitive land, being the Applicant's acquisition of a freehold interest in approximately 0.0887 hectares of land located at 9 Mackenzie Street, Putaruru. |
| Consideration | $550,000 |
| Applicant | General Distributors Limited Australian Public (99.45%) Various (0.55%) |
| Vendor | Licorice Trustees Limited |
| Background | The Applicant was granted a standing consent based on the non-residential use test on 13 November 2019. This permits the Applicant to acquire up to 75 hectares of residential (but not otherwise sensitive) land in up to 10 transactions by 1 December 2022 (subsequently extended/varied to 1 December 2024). The land was acquired on 6 August 2021 and is the second acquisition under the standing consent. Under the standing consent the Applicant must use any land acquired for non-residential use in the ordinary course of its business. The Applicant has acquired the land to enable the construction of additional carparking for the Countdown supermarket on adjoining land and improved loading and unloading area and truck access. |
| More information | Julie Nisbet Woolworths New Zealand 80 Favona Road Mangere Auckland 2024 |