| Notification | Section 23A Overseas Investment Act 2005 Schedule 4(2) – Residential land – standing consent |
|---|---|
| Notification number | 4 (of 15) |
| Date | 19 December 2022 |
| Investment | Acquisition of a freehold interest in a total of 0.6970 hectares of land at 9-13 Namata Road and 2 Roosevelt Avenue, 1 Nissan Place all in Onehunga, Auckland. |
| Consideration | $7,667,000 |
| Applicant | Fletcher Residential Limited Australia (55.5%) New Zealand (21%) United States of America (13.3%) United Kingdom (5.4%) Various (4.8%) |
| Vendor | Housing New Zealand Build Limited |
| 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 62 new residential dwellings on the new residential titles that are to be created as 42 apartments, 8 Stand-alone houses, 8 Duplex houses, 4 terraced houses over three “Superlots” Namta, Nissan and Rockfield. Of the above units at least 30 (or 48%) are to be delivered as affordable housing. 10 one bedrooms and 20 two bedroom “Kiwibuild Homes”. |
| More information | Gregory Allen Simpson Grierson Private Bag 92518 Auckland1141 |