| Decision | Consent granted Section 12(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 15 December 2023 |
| Pathway(s) | Sensitive land - Benefit test |
| Investment | Acquisition of a freehold interest in approximately 11.5005 hectares of land at 595 Front Miranda Road, Miranda, Waikato |
| Consideration | Withheld under section 9(2)(b)(ii) of the Official Information Act 1982 |
| Applicant | Tasman Tourism New Zealand Limited United Arab Emirates 90% Australia 10% |
| Vendor | Miranda Holiday Park Limited New Zealand 100% |
| Background | The Applicant is a subsidiary of Tasman Capital Investments (Australia) Pty Ltd. It invests in New Zealand holiday parks. The land is currently used as a holiday park. The Applicant plans to develop the park, either through the construction of cabins or capital improvements to shared park infrastructure; accommodation; fencing; heating or hot water systems. The main benefits to New Zealand are likely to be increased capital expenditure, greater productivity of the land, and advancement of the Government’s tourist strategy. Consent was granted as the Applicant met the investor test criterion and the benefit likely to occur as a result of the investment is likely to benefit New Zealand. The Minister of Finance has decided that the investment is not contrary to New Zealand’s national interest. |
| More information | Simon Peart Chapman Tripp (Wellington) P O Box 993 WELLINGTON 6140 |