| Decision | Consent granted Section 12(1)(a) and Section 13(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 15 December 2025 |
| Pathways | Sensitive land – Residential land development (One-off) and Significant Business Assets |
| Investment | Up to 100% of the shares in Vital Healthcare Properties Management Limited which gives an indirect control interest in land across New Zealand. |
| Consideration | $214,000,000 |
| Applicant | Vital Healthcare Property Trust New Zealand 68% |
| Vendor | NorthWest Healthcare Properties Management Limited Canada 100% |
| Background | The Applicant is a New Zealand based property fund that invests in healthcare related properties across New Zealand. The trust is publicly traded, with the largest beneficial owner being a Canadian asset management company. The Applicant is undertaking an internal reorganisation which will transfer control from Northwest Management to Vital Healthcare Properties Management Limited. The transaction is sensitive because the Applicant will gain control interest in assets valued over $100 million and control over sensitive land. Consent was granted as the Applicant met the investor test criterion, and the investment is likely to meet the non-residential use test. |
| More information | Glenn Shewan Bell Gully PO Box 4199 Auckland 1140 |