| Decision | Consent granted retrospectively Section 12(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 14 August 2025 |
| Pathway | Sensitive land – Residential land development (one off) |
| Investment | Leasehold interests in approximately 0.3627 hectares on the rooftop of the premises at 67A Pilmuir Street, Epuni, Lower Hutt. |
| Consideration | $600,000 |
| Applicant | Everest Infrastructure NZ United States of America 92% Various 8% |
| Vendor | Pilmuir Accommodation Limited New Zealand 100% |
| Background | The Applicant is a telecommunications assets manager, ultimately owned by US company Everest ANZ US, LLC. The Applicant entered into the transaction as part of its business operations to provide management services to land containing telecommunications assets. The land is, and will continue to be used, for non-residential purposes in the ordinary course of the Applicant’s business. This was a retrospective application as consent was not obtained prior to the Investment being entered into. This is because the area was not identified as residential land due to its commercial use. The transaction was self-reported to LINZ and retrospective consent was considered to be appropriate given the inadvertent nature of the breach. Consent was granted as the Applicant has met the investor test criterion. |
| More information | Ed Smithies Wynn Williams PO Box 4341 Christchurch 8140 |
| Retrospective penalty | $20,000 |