| Notification | Section 23A Overseas Investment Act 2005 Schedule 4(2) – Residential land – standing consent |
|---|---|
| Notification number | 3 (of 15) |
| Date | 19 December 2022 |
| Investment | Acquisition of a freehold interest in a total of 4.2798 of land at 20 Stonefields Avenue and 100 Morrin Road, Saint Johns, Auckland (the Land). |
| Consideration | Withheld under s9(2)(b)(ii) of the Official Information Act 1982 |
| Applicant | Fletcher Residential Limited Australia (55.5%) New Zealand (21%) United States of America (13.3%) United Kingdom (5.4%) Various (4.8%) |
| Vendor | Auckland City Council |
| Background |
This standing consent (the second granted to the Applicant) has been granted in accordance with the Increased Housing and Non-Residential Use tests set out in Schedule 2 of the Act. This permits the Applicant to acquire up to 200 hectares of yet to be identified residential (but not otherwise sensitive) land in up to 15 transactions by 28 February 2024. Under this standing consent, the Applicant and its associates are not permitted to occupy any land acquired under this standing consent and must sell all interests in land acquired under this standing consent within 10 years of the date of acquisition. The Applicant will develop the Land for new housing and build 264 new residential dwellings on the new residential title that are to be created as 18 stand-alone houses, 20 duplex houses, 48 Terraced houses, 22 one over one unit, 96 apartment units, 6 retirement living duplex houses, 54 retirement living apartment units. Of the 264 new dwellings/units to be built, 204 will be divested to third party purchasers and 60 will be retained and operated as a retirement village. |
| More information | Tara Wylie Simpson Grierson Private Bag 92518 Auckland 1141 |