Australian supermarket giant Woolworth

PHOTO: STUFF Australian supermarket giant Woolworths, the owner of the Countdown, Fresh Choice and Super Value supermarkets, has the green light from the Overseas Investment Office to buy up to 75 hectares of residential land.

Australian supermarket giant Woolworths has the green light to buy residential land for supermarkets and other facilities in New Zealand in the next two years from our overseas investment watchdog.

Two subsidiaries owned by Woolworths have been granted a “standing consent”  to buy up to 75 hectares of residential land for supermarkets and other facilities that support its operations in New Zealand and to complete up to 10 transactions before the consent expires on December 1 2022.

The Overseas Investment Office (OIO) has granted General Distributors and Wholesale Distributors, subsidiaries of the Woolworths Group, the consent to acquire residential (but not otherwise sensitive) land under the Overseas Investment Act.