British bank among foreigners in $1.7b property deals

International investors got the state's consent to buy New Zealand assets worth $1.7 billion during April.

The Overseas Investment Office's deliberations for that month have just been issued and they show foreign interests have consent to buy assets worth $11 billion from January to April.

The largest deal approved in April involved assets worth $1.2 billion which are owned by the Royal Bank of Scotland.

The British Government got approval to increase its stake in the bank and sensitive land involved was listed as 20ha at Takanini, 68ha at Hamilton International Airport and 102ha at Rukuhia.

Australia's Kenmill got approval for a deal involving assets worth $17.5 million owned by Australia's Valad Funds Management and Valad Property Trust.

A $5 million thoroughbred deal was also given consent. Australia's GH Westbury applied to buy assets from New Zealand's BGH Trusteeship and Michael Toloi and sensitive land involved in that deal is 85ha at Linwood Rd, Te Hihi, Karaka.

Ireland's Premier Dairies was granted consent for a $2.5 million transaction with Kiwi Timothy Wood to buy 56ha of Southland dairy farmland and a $1 million deal with Evans Farms to buy 32ha in Southland.

But the amount of money involved in a timeshare deal was hushed up. Worldmark by Wyndham (NZ) of the US is to buy into Wanaka Resorts. The OIO said Worldmark was a timeshare investment business and it wanted to buy sensitive land and redevelop the 38-unit Mt Aspiring Hotel, Wanaka.

US-owned Woollaston Estate Holdings got consent to buy 10ha at 513 Main Rd, Hope, in Nelson for $1 million. The vendor is New Zealander Phillip Woollaston.

The amount of money involved in a mining deal must stay a secret. Australia's Oceana Gold (NZ) is buying 575ha at Hyde in Central Otago. Oceana is New Zealand's largest gold producer. It owns and operates the Macraes Mine in Otago and Globe Progress Mine at Reefton. Oceana will lease the Hyde land so it can be farmed for some years before mining begins.

Italy's Mauro Balzarini got clearance to buy 7.4ha at Queenstown for $4.4 million.

The price being paid for a deal involving retirement village assets is being kept secret but FKP and Macquarie Group got permission for that transaction.

Australia's Pall Mall Hirequip was granted consent to buy the remaining 14 per cent of shares in Pacific Equipment Solutions which it does not already own.

The vendor was senior managers of the Hirequip Group and the price paid was suppressed.