|Date||6 December 2005|
|Offeror/applicant||Sirva (New Zealand) Limited|
|Ultimate applicant beneficial ownership||100 percent - United States of America, Sirva, Inc.|
|Beneficial overseas ownership|
|- Asset current||0 percent|
|- Asset proposed||100 percent|
|- Share current||N/A|
|- Share proposed||N/A|
|Offeree(s)/seller(s)||Pacific Oriental Holdings Limited of New Zealand|
|Business activities||Transport & Storage - Storage|
|Details of land involved||0.9879 hectares of leasehold situated at 10-12 Autumn Place, Penrose, Auckland being CT NA65C/10 (North Auckland Registry).|
|Consent Sought – 1995 Regs||To acquire an estate or interest in land which together with any associated land exceeds 0.4 hectares and includes/adjoins land that exceeds 0.4 hectares which is provided as a reserve, a public park, for recreation purposes, or a private open space.|
The application has been approved as it met the criteria.
The Overseas Investment Office is satisfied that the individuals with control of the Applicant have business experience and acumen relevant to the overseas investment, and that the Applicant has demonstrated financial commitment towards the overseas investment. The Overseas Investment Office is further satisfied that each individual that exercises control over the Applicant is of good character and is not an individual of the kind referred to in section 7(1) of the Immigration Act 1987.
The Applicant is a subsidiary of Sirva (Australia) Pty Limited, which in turn is a wholly owned subsidiary of Sirva, Inc, a company incorporated in the United States of America and listed on the New York Stock Exchange. Sirva (Australia) Pty Limited and its wholly owned subsidiaries operate one of Australasia's leading records management businesses under the name of Pickfords Records Management. This application is for a retrospective consent for the Applicant to acquire a leasehold interest in the subject land.
The proposal has resulted in the following benefits:
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