DecisionStanding Consent (Increased Housing test) granted
Sections 12(a) and 23A Overseas Investment Act 2005
Decision MakerOverseas Investment Office
Decision Date24 July 2019
InvestmentOverseas investments in sensitive land, being Ryman’s acquisition of interests in residential (but not otherwise sensitive) land.
ConsiderationNot yet determined.
ApplicantRyman Healthcare Limited
New Zealand (68.4%)
United States of America (10.7%)
Australia (3.6%)
Canada (2.2%)
United Kingdom (2.1%)
Various (less than 2%) (13%)
VendorNot yet determined.
Background

Ryman is a publicly-listed retirement village operator in New Zealand that acquires residential land to develop into retirement villages, being long-term accommodation facilities under the Act.

We are satisfied Ryman has demonstrated that residential land acquired under this standing consent is likely to be used in the construction of, or an increase of the number of dwellings in, a long-term accommodation facility, per Schedule 2 of the Act.

This standing consent (for a maximum of 20 transactions by 31 July 2022) will permit Ryman to acquire up to a total of 500 hectares of residential (but not otherwise sensitive) land in New Zealand.

More informationAndrew Woods
Chapman Tripp 
PO Box 2510
CHRISTCHURCH