DecisionConsent granted
Section 12(a) Overseas Investment Act 2005
Decision Date14 December 2017
InvestmentAn overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 46.0188 hectares of land at 42A Puketaha Road, Puketaha, Hamilton (“Land”).
Consideration$23,000,000
ApplicantCDL Land New Zealand Limited
New Zealand Public (38.897%)
Hong Leong Group, Singapore (24.4489%)
Singapore Public (22.2896%)
Various overseas persons (11.0858%)
United Kingdom Public (3.2788%)
VendorGeange Farms Limited
New Zealand (100%)
Background

The Applicant’s business is the acquisition and development of land from an undeveloped form to residential housing sections.

The Applicant plans to develop the Land into a modern high quality residential subdivision and sell the sections on the open market. The subdivision is intended to include supporting open space, commercial and social activities. 

The Applicant has a number of previous investments in New Zealand, which have created jobs throughout New Zealand and residential housing sections, including in Auckland, Christchurch and Hamilton.

New Zealanders also own approximately 39% of the Applicant’s parent company, which is an NZX listed company.

More informationAndrew Petersen
Bell Gully
PO Box 4199
AUCKLAND 1140