| Decision | Consent granted Section 13(1)(c) Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 26 September 2025 |
| Pathway | Significant business assets |
| Investment | Acquisition of leasehold interest in office space at 12 Jellicoe Street, North Wharf, Auckland. |
| Consideration | $566,000,000 |
| Applicant | ASB Bank Limited Australia 75% North America Region 15% United Kingdom 4% Europe Region 3% Asia Pacific Region 3% |
| Vendor | Kiwi Property Holdings No. 4 Limited New Zealand 65% North America Region 10% Australia 5% United Kingdom 3% Europe Region 2% Asia Pacific Region 1% Various 14% |
| Background | ASB Bank Limited is a New Zealand commercial bank, founded in Auckland in 1847, and ultimately owned by the Commonwealth Bank of Australia. ASB is acquiring a leasehold interest in commercial office space at 12 Jellicoe Street, North Wharf, Auckland. The rental payable over the lease term qualifies as an overseas investment in significant business assets. Consent was granted as ASB has met the investor test criterion. |
| More information | Antonia Shanahan Greenwood Roche (Auckland) P O Box 106006 Auckland |