| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 3 June 2020 |
| Pathway | Sensitive land – benefit to New Zealand |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of:
|
| Consideration | $75,000,000 |
| Applicant | NFF QT Development Pty Ltd as trustee for NFF QT Development Unit Trust, Augusta Lakeview Holdings Limited and other applicants Australia (79.85%) New Zealand (18.57%) Various (1.58%) |
| Vendor | Queenstown Lakes District Council New Zealand (100%) |
| Background | The Applicant is NFF QT Development Pty Ltd, a company in the Australia property development group NFF, on behalf of itself, Augusta Lakeview Holdings Limited (a subsidiary of NZX listed Augusta Capital Limited) and NFF and Augusta Capital Limited related entities. The Applicant and Augusta Lakeview Holdings Limited are acquiring and will develop 3.09 hectares of land in the Lakeview Precinct, Queenstown into a primarily residential mixed-use precinct over several stages between 2023 and 2040. The benefits likely to come from this investment include:
The investment is also likely to lead to consequential benefits for the Queenstown region. |
| More information | Andrew Petersen Bell Gully PO Box 4199 Auckland 1140 |