DecisionConsent granted
Section 12(a) Overseas Investment Act 2005
Schedule 2 of the Act
Decision MakerOverseas Investment Office
Decision Date15 August 2019
InvestmentAn overseas investment in residential (but not otherwise sensitive) land, being the Applicant's acquisition of the ground floor unit, approximately 0.0813 hectares, and 12 car parks within the Crest Apartment Building located at 199-209 Great North Road and 2 Turakina Street, Auckland.
Consideration$5,569,094 plus GST (if any)
ApplicantFisher & Paykel Appliances Limited
China (Mainland) 45.88%, Hong Kong 10.93%, Singapore 3.66% and other 39.53%
VendorCrest Apartments Limited
New Zealand 100%
Background

The Applicant is a New Zealand registered company engaged in designing, manufacturing and distributing household appliances and whiteware.

This consent has been granted in accordance with the non-residential use test set out in Schedule 2 of the Act.

The consent allows the Applicant to acquire a freehold interest in residential (but not otherwise sensitive) land for the purpose of developing and operating a Fisher & Paykel experience centre (a commercial showroom).

More informationPaula Ormandy
Kensington Swan
Private Bag 92-101
AUCKLAND