Applicant
Metlifecare Limited
Case number(s)
202100639
Decision date
Type
Decision
DecisionConsent granted
Section 12(a) Overseas Investment Act 2005 (Schedule 2)
Decision MakerOverseas Investment Office
Decision Date1 December 2021
Pathway(s)Residential land development (Increased housing - one-off purchase)
InvestmentAn overseas investment in sensitive land, being the Applicant’s acquisition of approximately 13 hectares of land located at 15 Sailrock Drive, Mangawhai Heads, Northland (Land).
ConsiderationWithheld under s9(2)(b)(ii) of the Official Information Act 1982
ApplicantMetlifecare Limited
100% owned by EQT Partners Infrastructure Fund IV, which is 100% overseas owned. No one entity holds more than 5% of this fund.
VendorBeachcomber Developments Limited
Background

The Applicant is a large aged-care provider. It intends to acquire the Land (which is currently undeveloped) for the development and operation of a new retirement village comprising approximately 160 single-level independent living units and a 48-bed care facility, together with common buildings and landscaping.

We consider the Investment is likely to:
•    meet one of the increased housing outcomes - being the construction of a long-term accommodation facility on the Land;
•    meet the non-occupation outcome - which means the Applicant and certain related persons must not occupy the Land for residential purposes.

More informationAndrew Petersen
Bell Gully (Auckland)
PO Box 4199
Auckland 1140