| Decision | Consent granted Section 12(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 28 August 2025 |
| Pathway | Residential land development (One-off purchase - Increased housing) |
| Investment | Acquisition of collectively 0.1464 hectares of land arising from a Boundary Adjustment Agreement with adjoining properties at Drury, Auckland. |
| Consideration | Equal exchange of interests in land |
| Applicant | Noah Eastern Limited China 95% New Zealand 5% |
| Vendor | Bremond Estates Development Limited 312 Development Limited |
| Background | The Applicant is a New Zealand company incorporated for the purpose of real estate development, land project management and investment. It is ultimately owned by a Chinese company, Shandong Wanghai Industrial Group Co.,Ltd, which has a varied portfolio including real estate development. The Applicant is exchanging interests in residential land with two of its neighbours under a boundary adjustment agreement. Under the agreement, the Applicant and its neighbours will exchange an equal area of land, resulting in them retaining an equivalent total interest in land as they did, prior to the agreement. The exchange will allow for an optimal residential subdivision on the Land and on surrounding land which the Applicant already owns. Consent was granted as the Applicant has met the investor test criterion and the Investment is likely to meet the increased housing test. |
| More information | Alan Lear, Barrister |