| Decision | Consent granted Section 12(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 6 August 2025 |
| Pathway | Sensitive Land - Benefit to New Zealand |
| Investment | Acquisition of a freehold interest in approximately 5.4036 hectares of land located at 1194 Coatesville Riverhead Highway, Auckland. |
| Consideration | Withheld under s9(2)(b)(ii) of the Official Information Act 1982 |
| Applicant | Fletcher Residential Limited Australia 46% New Zealand 28% Asia 10% North America 10% Various 6% |
| Vendor | Bhimchandra Dandapat New Zealand 100% |
| Background | The Applicant is a wholly owned subsidiary of Fletcher Building Limited. They are a New Zealand based land and residential housing developer. The Applicant intends to undertake a large housing development in West Auckland, involving 28.79 hectares (the wider development) comprising of at least 535 dwellings. Twenty of these will be built on this Land. The wider development is contingent on a successful change to the Auckland Unitary Plan. The Applicant expects construction to take approximately 7 years. The main benefits to New Zealand are likely to result in economic benefits in the form of development expenditure, and increased housing. The other benefit is linked to government policy promoting increased housing supply Consent was granted as the Applicants have met the investor test criterion and the investment is likely to benefit New Zealand. |
| More information | Tara Wylie Simpson Grierson (Auckland) Private Bag 92518 Auckland 1141 |