Industre Property Rua Limited
Case number(s)
Decision date
DecisionConsent granted 
Section 12(1)(a) Overseas Investment Act 2005
Decision makerThe Minister of Finance and the Minister for Land Information 
Decision date8 January 2024 
Pathway(s)Sensitive land - Benefit test
InvestmentAcquisition of a freehold interest in approximately 57.9982 hectares of land at 16 Wickham Street & 16A Wickham Street, Frankton, Hamilton
ApplicantIndustre Property Rua Limited
New Zealand (47%)
United States of America (15%) 
Various (38%)
VendorSouthpark Agri Development Limited
New Zealand (95%)
Japan (5%)

The Applicant is a New Zealand company ultimately owned by NZX-listed Stride Property Limited and a group of international institutional investors.

The land is currently used for occasional coarse grazing of animals and as a laydown yard for temporary storage of equipment and vehicles.

The Applicant will use the land to develop into a commercial, industrial and logistics complex comprising approximately 30 lots to be leased or sold to industrial, manufacturing and logistics operators.

The main benefits to New Zealand are likely to include increased jobs, additional investment for development purposes, promotion of development of the Waikato Region, and promotion of economic competitiveness. The investment is also likely to advance government’s regional development policies.  

Consent was granted as the Applicant has met the investor test criterion and because the benefit likely to occur as a result of the investment will result in benefit to New Zealand.

More informationJustin Maloney
Bell Gully (Auckland)
PO Box 4199
Auckland 1140

See the attached Assessment report linked below, which was published in response to an Official Information Act request:

Assessment Report 202300190 – Industre Property Rua Limited

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