The Kiwi businessman sold his units while awaiting trial on child pornography charges.
New Zealand businessman Sir Ron Brierley has sold his investment in the Orams marine development on Auckland’s waterfront while awaiting trial for child pornography charges in Australia.
The Overseas Investment Office approved the sale of 30% of units in the Orams NZ Unit Trust, which owns 75.95% of the shares in Orams Group Limited, which in turn has a 125-year leasehold interest in 3.5ha of sensitive land on Beaumont Street, Wynyard Quarter.
The land is owned by Panuku Development Auckland.
The OIO’s decision said Ariadne had demonstrated its investment would ensure efficient development of the marine facilities on the land ahead