| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 Schedule 2 of the Act |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 15 August 2019 |
| Investment | An overseas investment in residential (but not otherwise sensitive) land, being the Applicant's acquisition of the ground floor unit, approximately 0.0813 hectares, and 12 car parks within the Crest Apartment Building located at 199-209 Great North Road and 2 Turakina Street, Auckland. |
| Consideration | $5,569,094 plus GST (if any) |
| Applicant | Fisher & Paykel Appliances Limited China (Mainland) 45.88%, Hong Kong 10.93%, Singapore 3.66% and other 39.53% |
| Vendor | Crest Apartments Limited New Zealand 100% |
| Background | The Applicant is a New Zealand registered company engaged in designing, manufacturing and distributing household appliances and whiteware. This consent has been granted in accordance with the non-residential use test set out in Schedule 2 of the Act. The consent allows the Applicant to acquire a freehold interest in residential (but not otherwise sensitive) land for the purpose of developing and operating a Fisher & Paykel experience centre (a commercial showroom). |
| More information | Paula Ormandy Kensington Swan Private Bag 92-101 AUCKLAND |