Tak Development is owned by the giant Japanese Takenaka Corporation.
The lender has to issue new Property Law Act notice.
Other OIO decisions included forestry lots and leasehold land.
The NZX-listed property fund increased its dividend guidance this morning.
The company will pay a dividend above operating income through the development period.
The property fund used its first-half results announcement to say it was buying a $228m Wellington office asset.
The company reinstated dividend payments with its first-half result.
Stonewood Capital will fund residential development as an alternative to bank funding.
The property fund reiterated demand for quality office space isn’t going away despite remote working trends.
Large-format retail continues to weather Covid-19 better than most.