Metlifecare Limited
Case number(s)
Decision date
Notification Notification of a transaction under a Standing Consent
Section 12(1)(a) and Section 13(1)(c) Overseas Investment Act 2005
Notification number 3 (of 20)
Decision Date 30 August 2023
Pathway(s) Residential Land Development- Increased housing (Standing consent)
Investment Acquisition of a freehold interest in approximately 0.0824 hectares of land at 21 Ngata Street, Palmerston North.
Asset Value $600,000
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 Palmerston North Māori Reserve Trust
New Zealand (100%)

The Consent Holder was granted a residential standing consent under the Increased Housing pathway on 20 July 2022. This permits the Consent Holder to acquire up to 300 hectares of land in up to 25 transactions by 20 July 2027.

This is the third acquisition of Land under the standing consent. The Consent Holder intends to re develop the land to construct 2 single story 2-bedroom dwellings which will be sold to residents of the retirement village.

The construction of these dwellings started in April 2023 with completion expect to be in early 2024.

More information Andrew Petersen
Bell Gully
PO Box 4199
Auckland 1140