DecisionConsent granted
Section 13(1)(c) Overseas Investment Act 2005
Decision MakerOverseas Investment Office
Decision Date24 April 2018
InvestmentAn 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 $100m, that property being freehold land located at 195 Lambton Quay, Wellington.
Consideration$102,515,000
ApplicantLambton Quay Real Estate Netherlands B.V.
Swiss Public (99.0%)
Other Investors, Various (1.0%)
VendorLambton Quay Properties Nominee Limited
New Zealand (100%)
Background

The Applicant is ultimately a wholly owned subsidiary of Credit Suisse AG (which is part of the Credit Suisse group of companies). 

The freehold land being acquired is the site of a commercial building (the HSBC Tower) which will continue to be operated for commercial purposes. 

The Applicant has satisfied the OIO that the individuals who will control the investment have the relevant business experience and acumen and are of good character. The Applicant has also demonstrated financial commitment to the investment.

More informationAmanda Spratt
Minter Ellison Rudd Watts 
PO Box 3798
AUCKLAND 1140