DecisionConsent granted
Section 12(a) Overseas Investment Act 2005
Decision MakerOverseas Investment Office
Decision Date21 August 2019
InvestmentAn overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 3.0915 hectares of land at 86 and 96 Arataki Road, Havelock North, Hawkes Bay.
ConsiderationWithheld under s9(2)(b)(ii) of the Official Information Act
ApplicantCDL Land New Zealand Limited
New Zealand Public (38.897%)
Singapore Public (23.1462%)
Various overseas persons (11.0858%)
Hong Leong Group, Singapore (9.5776%)
Citibank Nominees Singapore Pte Ltd, Singapore (4.6371%)
United Kingdom Public (3.2788%)
International Value Advises, LLC, United States of America (3.2717%)
DBS Nominees Pte Ltd, Singapore (2.5826%)
DBSN Services Pte Ltd, Singapore (1.8087%)
BNP Paribas Securities Services, Singapore (1.7146%)
VendorsR W Satherley Family Trust
Craig Hamish Satherley & Mason Ronald Satherley
Background

This consent has been granted in accordance with the increased housing test set out in Schedule 2(11) of the Act.

The Applicant is a residential property developer.

The land is residential (but not otherwise sensitive) land.

The land will be used in conjunction with nearby land (including that which has previously been consented to under the Act) to construct a new residential housing development.

More informationAndrew Petersen
Bell Gully
PO Box 4199
AUCKLAND 1140