| Decision | Consent granted Section 13(1)(c) Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 29 April 2026 |
| Pathway | Significant business assets |
| Investment | A leasehold interest in approximately 0.6496 hectares of land and the buildings located at 10-26 Jellicoe Street, Auckland. |
| Consideration | $205,000,000 |
| Applicant | Precinct Pacific Investment Limited Partnership Singapore 75% New Zealand 22% Various Regions 3% |
| Vendor | Kiwi Property Holdings No. 4 Limited New Zealand 66% United States 9% Australia 5% United Kingdom 3% Europe Region 2% Various Regions 15% |
| Background | The Applicant is a partnership between Reco Pacific Private Limited and Precinct Properties New Zealand Limited which invests in commercial properties. It is acquiring the land and buildings for the purposes of leasing to third party tenants. The land is not considered ‘sensitive land’ under the Act and therefore consent is not required to acquire sensitive land under section 12(1) of the Act. This application was subject to a national interest assessment because the Applicant is a non-New Zealand government investor as it is ultimately 75% owned by the owner and administrator of Singaporean Government assets. The Minister of Finance has decided that the Investment is not contrary to New Zealand’s national interest. Consent was granted as the Applicant has met the investor test criterion. |
| More information | Andrew Petersen Bell Gully (Auckland) PO Box 4199 Auckland 1140 |