| Decision | Standing Consent (Increased Housing and Non-Residential Use tests) granted Sections 12(a) and 23A Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 10 January 2020 |
| Pathway(s) | Sensitive residential land – standing consent (increased housing & non-residential use). |
| Investment | Overseas investments in sensitive land, being Oceania’s acquisition of interests in residential (but not otherwise sensitive) land. |
| Applicant | Oceania Healthcare Limited New Zealand (55.25%) |
| Background | Oceania is a publicly listed operator of aged care facilities and retirement villages in New Zealand. It acquires residential land to develop into aged care facilities and retirement villages, being long-term accommodation facilities under the Act. We are satisfied Oceania has demonstrated that residential land acquired under this standing consent is likely to be used in the construction of, or an increase of the number of dwellings in, a long-term accommodation facility. This standing consent has been granted in accordance with the Increased Housing and Non-Residential Use tests in Schedule 2 of the Act. This standing consent (for a maximum of 12 transactions by 31 January 2023) will permit Oceania to acquire up to a total of 20 hectares of residential (but not otherwise sensitive) land in New Zealand. |
| More information | Annelies McClure |