Bupa Retirement Villages Limited
Case number(s)
Decision date
ecision Retrospective consent approved
Section 12(1)(a) Overseas Investment Act 2005
Decision Maker Overseas Investment Office
Decision Date 19 July 2022
Pathway(s) Benefit to New Zealand (Benefit to New Zealand) 

A freehold interest in Villa 27/3 Liston Avenue, Taupo 

A freehold interest in another retirement villa at the Liston Heights Retirement Village, 3 Liston Avenue, Taupo 

Asset Value Withheld under s(9)(2)(a) of the Official Information Act 1982
Applicant Bupa Retirement Villages Limited
(United Kingdom 100%)

Barbara Fay Craig 
(New Zealand 100%) 

Withheld under s(9)(2)(a) of the Official Information Act 1982 
(New Zealand 100%) 


The Applicant operates the Liston Heights Retirement Village (Liston Heights) at 3 Liston Avenue, Taupo.

The Applicant is seeking retrospective consent to acquire Villa 27. The Applicant entered into a contract with the vendor, Barbara Fay Craig to acquire Villa 27, but this contract was not conditional on the Applicant obtaining consent under the Act. The Applicant and Ms Craig later entered into a variation to the contract to include this condition. 

The Applicant has not yet entered into a contract to acquire a second villa. However, the Applicant wishes to acquire another villa and is therefore also seeking consent to acquire this, should the owner wish to sell in the future. 

After considering the application, the OIO is satisfied that the investment is likely to result in benefit to New Zealand. In particular, the investment is likely to introduce additional investment into New Zealand. The investment will also result in a more efficient operation of Liston Heights, which will provide better ageing care services and advance the Government’s Healthy Ageing Strategy.

More information David Gilbert
MinterEllisonRuddWatts (Auckland)
PwC Tower
Level 22
15 Customs Street
West Auckland 1010
Retrospective penalty  $20,000