| Decision | Consent granted Section 12(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision maker | The Minister for Land Information and the Associate Minister of Finance |
| Decision date | 11 March 2024 |
| Pathway | Sensitive land - Benefit test |
| Investment | Acquisition of a freehold interest in approximately 38.343 hectares of land at 843 State Highway 30, Tikitere, Rotorua. |
| Consideration | $15,200,000 |
| Applicant | Cogent Corporation Limited Indonesia 100% |
| Vendors | Omni Realty and Services Limited Moose Lodge Properties Limited |
| Background | The Applicant owns and operates short-term accommodation in New Zealand and is ultimately owned by 16 Indonesian nationals. Moose Lodge has not been fully operational since 2005, and has been closed for the last 12 months. The Applicant intends to refurbish the property and re-open it to the public. The main benefits to New Zealand are likely to be increased capital expenditure, the creation of jobs, and revenue generated from international tourism, supporting the New Zealand Aotearoa Government Tourism Strategy. Consent was granted as the Applicant has met the investor test criterion and the Investment is likely to benefit New Zealand. |
| More information | Tessa Baker Chapman Tripp (Auckland) PO Box 2206 Auckland 1140 |
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