| Decision | Consent granted Sections 12(a) and 23A Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 24 January 2024 |
| Pathway(s) | Standing consent (residential) - Increased housing and Non-residential use) |
| Investment | Overseas investments yet to be made in residential (but not otherwise sensitive) land |
| Consideration | Not yet determined |
| Applicant | Fletcher Residential Limited and Vivid Living Limited Australia (45%) New Zealand (26%) United States of America (18%) Various (11%) |
| Vendor | Not yet determined |
| Background | A standing consent has been granted to two subsidiaries of Fletcher Building Limited:
This standing consent will permit the Applicants to acquire up to 200 hectares of residential (but not otherwise sensitive) freehold land located in the Auckland, Canterbury and Waikato regions by 31 January 2027. The land may be used for up to 15 developments. The Applicants must develop new residential dwellings, which may include retirement villages and “build-to-rent” developments. The Applicants may also put land to non-residential use in support of these developments. The Applicants and their associates must not occupy land acquired under this standing consent. The Applicants must ultimately sell all land acquired under this standing consent, other than land used for non-residential purposes, for retirement villages, or for build-to-rent developments. |
| More information | Tara Wylie Simpson Grierson (Auckland) Private Bag 92518 Auckland 1141 |