| Notification | Notification of a transaction under a Standing Consent Section 12(1)(a) and Section 13(1)(c) Overseas Investment Act 2005 |
|---|---|
| Notification number | 2 (of 20) |
| Decision Date | 16 August 2023 |
| Pathway(s) | Residential Land Development- Increased housing (Standing consent) |
| Investment | Acquisition of a freehold interest in approximately 0.2754 hectares of land at 27 Henry Tayler Rise, Wainui, Auckland. |
| Asset Value | $1,921,559.71 |
| Applicant | Universal Homes The People’s Republic of China (100%) |
| Vendor | Fulton Hogan Land Development Limited New Zealand (100%) |
| Background |
The Consent Holder was granted a residential standing consent under the Increased Housing pathway on 3 April 2020. This permits the Consent Holder to acquire up to 21.5 hectares of land in up to 27 transactions by 3 April 2028. This is the second acquisition of land under the standing consent. The Consent Holder intends to construct 13 dwellings which will be sold as residential homes. The construction of these dwellings started in April 2023 with completion expect to be in October 2023. The Consent Holder estimates these dwellings will all be sold by the end of December 2023. |
| More information | Matthew Ockleston Dentons Kensington Swan 18 Viaduct Harbour Ave Auckland 1010 |