Tara Wylie

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New legislation enables passive build-to-rent investment

2 months ago | lexology.com | Tara Wylie |Greg Allen |Nick Wilson |Edward Warren |Lucy Westenra |Will Barnes

The Overseas Investment (Build-to-rent and Similar Rental Developments) Amendment Bill passed its third reading yesterday and is set to come into force next week. The legislation amends the Overseas Investment Act 2005 (Act) and creates a streamlined pathway for investment in already developed build-to-rent (BTR) housing. BTR developments are purpose-built, large-scale properties designed exclusively for long-term residential rental units.
Tentative steps but much lies ahead for a Climate Change and Managed Retreat policy framework

Oct 15, 2024 | lexology.com | Greg Allen |Bill Loutit |Donna Hurley |Graeme Palmer |Hamish Harwood |Judith Cheyne | +11 more

The recent release of the report arising from the Finance and Expenditure Committee’s Inquiry into Climate Adaptation (Adaptation Report) provides some welcome direction for the future management of the impacts of climate change on buildings and land.
New ministerial directive on overseas investment into New Zealand

Jun 12, 2024 | lexology.com | Greg Allen |Tara Wylie |Don Holborow |James Hawes |Michael Pollard |Michaël Sage | +1 more

On 10 June 2024, the Associate Minister of Finance, Hon David Seymour, issued a new Ministerial directive letter relating to the processing of applications by the Overseas Investment Office (OIO).
Energy Outlook - renewable energy trends and developments in New Zealand

Oct 30, 2023 | lexology.com | Michaël Sage |Simon Vannini |Rob Macredie |Chris Browne |Edward Norman |Catherine Shipton | +7 more

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Are the residential restrictions in the Overseas Investment Act stifling housing development?

Aug 23, 2023 | lexology.com | Tara Wylie |Greg Allen |Edward Warren |Nick Wilson

With consideration as to whether residential land should be caught under the Overseas Investment Act being back on the agenda pre-election, it is timely to reflect on whether the legislative changes introduced in 2018 are actually serving their purpose. The 100-day election promise made by the Labour Government, and brought in through the coalition, was intended to stop foreigners buying up New Zealand’s residential housing stock.
Build to Rent developments: A long game worth playing?

Aug 23, 2023 | lexology.com | Greg Allen |Will Barnes |Edward Warren |Barney Cumberland |Michael Wood |Sandy Donaldson | +5 more

Investment in Build to Rent (BTR) projects are increasingly being discussed as an alternative investment to usual residential developments in the current market, with many potential first-home buyers choosing to stay in rental properties while interest rates and the cost of living remains high. In this article, we outline what a BTR project is, how BTR projects are funded, overseas investment and tax considerations, and much more.
Top firm assists Microsoft to navigate complex OIO consent

Apr 17, 2023 | lexology.com | Tara Wylie

Simpson Grierson is pleased to have assisted Microsoft in the successful Overseas Investment Office consent application to buy 6.5 hectares of freehold New Zealand land to create a $180 million data centre. Consent was granted under the Overseas Investment Act’s Benefit to New Zealand test, as the Ministers considered that the data centre construction will bring significant capital into Aotearoa, creating 50 full-time roles and 300 temporary jobs during construction.