November 2006 decisionsBunnings buys property in Stoke, Nelson, for new store Macquarie buys two further properties in Plunket Avenue, Manukau Hong Kong investor buys further land at Maraekakakaho Road, Hastings US investors buy more land for their farm at Motueka, Nelson
Bunnings buys property in Stoke, Nelson, for new storeBunnings Limited, owned in Australia, has approval to acquire 2.1 hectares at 76 Saxton Road West, Stoke, Nelson for an initially suppressed amount, released on appeal in February 2007 as $5,153,175, from Calder Stewart Industries Limited of Aotearoa. The land adjoins “a reserve, a public park, or other sensitive area”.
Bunnings similarly bought land in Paraparaumu for a new store in August 2006. See our commentary for that month for further details.
The OIO states:
Bunnings Limited (Bunnings) is one of New Zealand’s major suppliers of home and garden improvement products, and building materials and services to retail and trade customers. Bunnings operates a network of hardware stores throughout New Zealand, trading under the brand names Benchmark Building Supplies and Bunnings Warehouse. Bunnings proposes to acquire the subject land to construct and develop a large format Bunnings Warehouse store as part of a continuation of its expansion and capital investment programme.
[Decision number 200620070.] Macquarie buys two further properties in Plunket Avenue, ManukauMacquarie Goodman Holdings (NZ) Limited/Macquarie Goodman Nominee (NZ) Limited, owned 47.035% in Australia, 14.36% by “various overseas persons”, and 38.605% in Aotearoa, has approval to acquire two properties in Plunket Avenue, Manukau, Auckland:
· 8 hectares at 100 Plunket Avenue for $23,730,000 from Waiweka Limited, owned in Aotearoa by Timothy Laird Edney and Catherine Ruth Edney [Decision number 200620071]; and · 6 hectares at 70 Plunket Ave for $28,960,000 from Ford Motor Company of New Zealand Limited, owned in the U.S.A. by Ford Motor Company [Decision number 200620072].
In both cases, the land adjoins “a reserve, a public park, or other sensitive area”.
The OIO states:
The Applicant proposes to acquire the subject property which is consistent with Macquarie Goodman’s strategy of owning well-located, good quality industrial property. The proposed acquisition of the subject land and the [two properties] will consolidate Macquarie Goodman’s land holding in Plunket Avenue, Wiri as the land adjoins an existing Macquarie Goodman asset, the Auckland Distribution Centre. The acquisition of the property will enable an extension to the Auckland Distribution Centre to be constructed.
Macquarie Goodman received approval in March 2006 to acquire 10 hectares at 80 Plunket Road (sic), as part of a reorganisation of property holdings among Macquarie companies. See our commentary for that month for further details. Hong Kong investor buys further land at Maraekakakaho Road, HastingsParitua Vineyards Limited, owned in Hong Kong by Gary Alan Fisher, has approval to acquire 78 hectares at Maraekakakaho Road, Hastings, Hawkes Bay for $1,574,888 from John Malcolm Lyons and George Alexander Lyons of Aotearoa.
According to the OIO,
Paritua Vineyards Limited (Paritua) has established a vineyard and winery operation upon 67.2163 hectares of land, adjoining the subject land, that Paritua’s shareholder has previously received consent to acquire. The land also contains a wine tasting and retail shop. Paritua proposes to acquire the subject land to further expand the vineyard.
Fisher bought the earlier 67 hectares of land in two blocks for $2,407,750 in April 2001. See our commentary for that month for further details.
[Decision number 200620069.] US investors buy more land for their farm at Motueka, NelsonKenneth Giles McDermott and Kathleen McDermott and Philip William Earl Donaldson as trustees of the Fair Hill Trust of the U.S.A., have approval to acquire 14 hectares at Motueka River West Bank Road, Pokororo, Motueka Valley, Nelson for $525,000 from Stuart John Heath of Aotearoa.
The OIO states:
The Applicant proposes to acquire the subject property which adjoins 345.5642 hectares of land acquired by the Applicant in 2003 and 2006. The Applicant advises that the subject land will be incorporated into the Applicant’s existing farming operations. The acquisition is likely to increase stock carrying capacity, including the implementation of a calf rearing scheme, and provide additional land to grow fodder crops for the Applicant’s farming operation.
The 2003 approval was for 341 hectares and only to the McDermotts. The 2006 decision was for 4.8 hectares and was to the McDermotts and Donaldson as trustees of the Fair Hill Trust. See our commentaries for June 2003 and May 2006 for further details.
[Decision number 200620068.] Summary statisticsAll investments This was the quietest month in 2006, unusual for this time of year. Because just one approval had its consideration (price) suppressed, the total for the whole month is also suppressed, so no comparisons can be made with 2005.
Investment involving land Both gross and net sales of land approved by the OIO during the years to November have increased substantially in area. Refusals (above) have risen in number, area and value, but are still a tiny proportion of the total.
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Compiled by: Campaign Against Foreign Control of Aotearoa, P. O. Box 2258 Christchurch. |
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