| Decision | Consent granted Section 13(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 9 September 2026 |
| Pathway | Primary Consent (Significant business asset) |
| Investment | Acquisition of a 50% limited partnership interest in CSW Tower Limited Partnership and 50% of the shares in CSW Tower GP Limited |
| Consideration | $135,000,000 |
| Applicant | Mayfair 1 Pte. Ltd. United States of America 40% South Korea 20% Canada 11% Various 29% |
| Vendor | Precinct Properties Wynyard Limited New Zealand 75% Australia 6% North America 5% Various 14% |
| Background | The Applicant is a Singapore-incorporated special-purpose investment vehicle managed by PAG Investment Advisors Pte. Ltd., part of an Asia-focused alternative investment management group. The Applicant is acquiring a 50% limited partnership interest in CSW Tower Limited Partnership and 50% of the shares in CSW Tower GP Limited. At the time of completion CSW Tower Limited Partnership will own PWC Tower, a commercial office building located at 15 Customs Street West, Auckland. Following completion, the Applicant and Precinct Properties Holdings Limited will each hold a 50% interest in CSW Tower Limited Partnership and CSW Tower GP Limited, and Precinct Properties Management Limited will continue to manage the partnership and PWC Tower. This application was subject to a national interest assessment as the Applicant is a non-New Zealand government investor. Consent was granted as the national interest test was met. |
| More information | Andrew Petersen Bell Gully (Auckland) PO Box 4199 Auckland 1140 |