| Decision | Consent granted Section 12(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 7 May 2026 |
| Pathway | Sensitive land – Residential land development (one off) |
| Investment | Acquisition of a freehold interest in approximately 1300 square meters of land at Hanley’s Farm subdivision, Queenstown. |
| Consideration | $0 The transaction does not involve monetary consideration as it is part of a land swap agreement established by the Development Cooperation Agreement dated 2 August 2024 between the Applicant and Vendor. |
| Applicant | RCL Henley Downs Limited New Zealand 70% United States 13% United Kingdom 8% Various 9% |
| Vendors | Dale Margaret Lloyd and Graeme Colin Hastie as trustees of the Triumph Trust |
| Background | The Applicant is a subsidiary of RCL Real Estate, an experienced residential property developer in New Zealand and Australia. The Applicant is carrying out a large development known as Hanley's Farm, in the Jacks Point Reserve Zone in Queenstown. The Applicant is acquiring 1300 square meters of land at Jack Hanley Drive, Hanley's Farm, Queenstown which it will use for 5 residential lots. Under a land swap agreement, the Applicant is transferring approximately 3,300 square meters to the Vendor, and the Vendor is transferring approximately 1,300 to the Applicant. The swap will enable the Applicant to regularise boundaries for the creation of 5 residential lots. Consent was granted as the Applicant has met the investor test criterion and the Investment is likely to meet the increased housing test. |
| More information | Michael Tinkler Burton Partners P O Box 8889 Auckland 1150 |