| Notification | Section 23A Overseas Investment Act 2005 Schedule 4(2) – Residential land – standing consent |
|---|---|
| Notification number | 3 (of 10) |
| Decision date | 2 December 2022 |
| Investment | An overseas investment in residential-only sensitive land, being the Applicant's acquisition of a freehold interest in approximately 1.7628 hectares of land at 410 Peacockes Road, Hamilton. |
| Consideration | $4,000,000 |
| Applicant | General Distributors Limited Australian Public (99.45%) Various (0.55%) |
| Vendor | Peter John Craig and James Colin Gordon Cochrane as trustees |
| 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 18 May 2022 and is the third 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 a Woolworths supermarket and ancillary retail use. |
| More information | Phillippa Clifford Woolworths New Zealand 80 Favona Road Mangere Auckland 2024 |