| Decision | Consent Granted Section 12(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | The Minister for Land Information and the Associate Minister of Finance |
| Decision Date | 15 March 2022 |
| Pathway(s) | Benefit to New Zealand |
| Investment | Acquisition of approximately 8.9574 hectares of land located at 99 Totara Road, Whenuapai, Auckland. |
| Consideration | Withheld under s9(2)(b)(ii) of the Official Information Act 1982 |
| Applicant | Metlifecare Limited 100% owned by EQT Partners Infrastructure Fund IV, which is 100% overseas owned. No one entity holds more than 5% of this fund. |
| Vendor | Paul Ronald Montgomery and Anne Lynette Leighton as Executors of the Estate of Barbara Eleanor Montgomery (New Zealand 100%) |
| Background | The Applicant, a New Zealand-incorporated company, is an experienced owner and operator of retirement villages in New Zealand, operating predominantly in the upper North Island. The Applicant sought consent to acquire approximately 8.9574 hectares of land located at 99 Totara Road, Whenuapai, Auckland (the Land) and intends to develop a retirement village on the Land (the Development). The Development is likely to introduce economic benefits to New Zealand, including job opportunities for New Zealanders during its construction phase and further job opportunities when the retirement village is operational. The Development is also likely to introduce over $170 million of additional investment for development purposes into New Zealand. In addition to introducing economic benefits, the Development is likely to advance the Government’s Healthy Ageing Strategy and the Better Later Life He Oranga Kaumātua 2019-2034 strategy. The OIO is satisfied that the benefit to New Zealand test and the investor test have been met. |
| More information | Andrew Petersen Bell Gully (Auckland) PO Box 4199 Auckland 1140 |
See the attached assessment report linked below, which was published in response to an Official Information Act request:
Metlifecare Limited’s application for consent to acquire land at Whenuapai, Auckland