DecisionConsent granted
Section 13(1)(c) Overseas Investment Act 2005
Decision Date31 March 2017
Investment

An overseas investment in significant business assets, being the Applicant’s acquisition of property in New Zealand used in carrying on business in New Zealand for consideration exceeding $100 million, that property being:

  • The Majestic Centre, 88-122 Willis Street, Wellington (to be acquired by NPT 10 Limited);
  • The North City Shopping Centre, 2 Titahi Bay Road and Lyttleton Avenue, Porirua (to be acquired by NPT 11 Limited).
Consideration$230,000,000
ApplicantNPT Limited
New Zealand Public (71.39%)
Various overseas persons (28.61%)
VendorKiwi Property Holdings Limited
New Zealand Public (74.1%)
United States Public (14.3%)
Australian Public (4.0%)
United Kingdom Public (3.5%)
European Public (2.8%)
Asian Public (1.3%)
Background

The Applicant is an NZX listed company with a diverse property portfolio across retail, industrial and commercial buildings throughout New Zealand.

The overseas investment transaction has satisfied the criteria in section 18 of the Overseas Investment Act 2005.

More informationAndrew Petersen
Bell Gully
PO Box 4199
AUCKLAND 1140