| Decision | Consent granted Section 13(1)(c) Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 5 September 2025 |
| Pathway | Significant business assets |
| Investment | Acquisition of business, assets and leasehold interests in non-sensitive land for the business known as ‘Hotel Indigo Auckland’ for consideration exceeding $100 million. |
| Consideration | $160,000,000 |
| Applicants | YTLHS (Auckland) Pte Ltd and RW Auckland Limited Malaysia 80% Various 20% |
| Vendors | NFF NZ Operations Pty Limited as trustee of the NZFF NZ Operations Unit Trust and NFF New Zealand Pty Limited as trustee of the NFF NZ Unit Trust Australia 100% |
| Background | The Applicants are both ultimately owned by Malaysian based YTL Corporation Berhad, the parent company of the YTL Group which operates as an investment holding and management firm. RW Auckland is buying the business and assets of ‘Hotel Indigo Auckland’ including the leasehold interest in the hotel premises and carparks. YTLHS (Auckland) Pte Ltd is buying a freehold interest in land located at 51 Albert Street, Auckland (land under the Hotel Indigo) and 76–84 Albert Street, Auckland (being 20 carpark lots). This will be the Applicants’ first investment in New Zealand. Consent was granted as the Applicant met the investor test criterion. |
| More information | Pavanie Edirisuriya DLA Piper New Zealand PO Box 160 Shortland Street Auckland |