| Decision | Consent granted Section 12(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 1 July 2026 |
| Pathway | Sensitive land - Benefit to New Zealand |
| Investment | Acquisition of a freehold interest in approximately 8.8419 hectares of land located at 28 Thompson Road and 1.8633 hectares of land located at 176 Napier Road, Havelock North, Hawkes Bay. |
| Consideration | Withheld under s9(2)(b)(ii) of the Official Information Act 1982 |
| Applicant | Arvida RV2 Limited Asia 43% Middle East 38% North America 13% Various 6% |
| Vendors | Landsdale Development Limited New Zealand 100% Almo Properties Limited New Zealand 100% Susan Joy Bourke and Michael John Bourke New Zealand 100% |
| Background | The Applicant is a subsidiary of Arvida Limited, a retirement village provider and operator in New Zealand. It is ultimately owned by the Stonepeak Asia Infrastructure Fund, managed by the New York based investment firm Stonepeak Partners LP. The land is currently used by the Vendors as a mixture of commercial land, a residential home and bare undeveloped land. The Applicant intends to develop the land into a retirement village comprising approximately 185 independent villas and 28 dual purpose care suites, as well as associated infrastructure, amenities and roading. The Applicant will be the community operator of the retirement village. The main benefits to New Zealand are likely to include increased capital expenditure and the creation of employment. It also advances government policies in relation to housing. Consent was granted as the Applicant has met the investor test criterion and the investment is likely to benefit New Zealand. A national interest assessment was not required because an exemption from the definition of ‘non-NZ government investor’ was granted to Stonepeaks Alps Holdco Limited and its wholly owned subsidiaries in December 2025. |
| More information | Guy Bidwill Chapman Tripp (Auckland) PO Box 2206 Auckland 1140 |