Since20181 Development Limited
Case number(s)
Decision date
DecisionConsent granted 
Section 12(a) Overseas Investment Act 2005
Decision MakerOverseas Investment Office
Decision Date6 December 2019
Pathway(s)Residential land – increased housing and non-residential use
InvestmentAn overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 0.0759 hectares of land at 20 Browns Bay Road, Rothesay Bay, Auckland.
ApplicantSince20181 Development Limited
People’s Republic of China (100%)
VendorDarren Paul Porteous
New Zealand (100%)

The Applicant plans to construct an apartment development on the land and neighbouring land (that it already owns). The development will contain at least 75 new residential dwellings and approximately three commercial units. 

The Applicant plans to begin construction of the development immediately after obtaining all required consents. The Applicant must complete construction of the development by December 2025.

The Applicant will not occupy or retain any residential apartments in the development and must sell them all by the end of December 2026.

The Applicant plans to retain three ground floor units within the development, which the Applicant can only use for non-residential purposes. The Applicant intends to lease these three commercial units as shops to service the apartment residents.

To meet the increased housing test, the Investment is likely to:

  • meet 1 or more of the increased housing outcomes, being an increase in the number of residential dwellings constructed on the residential land;
  • meet the on-sale outcome, which means the Applicant must on-sell all interests in the residential land; and
  • meet the non-occupation outcome, which means the Applicant or certain related persons must not occupy the land.

To meet the non-residential use test, the commercial units in the Investment are likely to be: 

  • used for non-residential purposes in the ordinary course of business for the relevant business; and
  • not be used, nor held for future use, for any residential purposes.
More informationWinston Wang
Winston Wang & Associates
96 Remuera Road

See the attached assessment report linked below, which was published in response to an Official Information Act request:

Overseas Investment Act consents Since20181 Development Limited 201900225 and 201900473

Related files