Bupa Retirement Villages Limited
Case number(s)
Decision date

Consent granted
Section 12(1)(a) Overseas Investment Act 2005

Decision maker Toitū Te Whenua Land Information New Zealand
Decision date 25 September 2023
Pathway(s) Sensitive land - Residential land development
Investment A freehold interest in approximately 2.6 hectares of land at 257-259 and 261 Napier Road, Kelvin Grove, Palmerston North.
Consideration $2,600,000

Bupa Retirement Villages Limited
United Kingdom (100%)

Vendor Cressmac Investments Limited
New Zealand (100%)

Colin Peter MacPherson
New Zealand (100%)

The Applicant is retirement village operator which is an indirect subsidiary of the British United Provident Association Limited. The Applicant is seeking consent to acquire the land for the purpose of expanding its existing adjacent Riverstone Village.

The land is currently used for residential purposes and as a gardening business. The Applicant intends to use the land to increase housing through the development of a long-term accommodation facility and related facilities.

Consent was granted to this investment as the Applicant met the investor test criterion and the investment is likely to meet the increased housing test.

More information

Katrine Kofoed
Minter Ellison Rudd Watts (Auckland)
PO Box 3798
Auckland 1140