| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 3 September 2021 |
| Pathway(s) | Benefit to New Zealand (Benefit to New Zealand - S&I) |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 41.5344 hectares of land at located at 1430 Lorne Dacre Road, Mabel Bush, Southland |
| Consideration | $1,600,000 |
| Applicant | Horizon Flowers NZ Limited Netherlands (100%) |
| Vendor | Brendan James Fahy personally and as executor of the estate of Barbara Anne Fahy New Zealand (100%) |
| Background | The Applicant is a New Zealand company that plants and processes tulip bulbs for export. The Land is currently used to grow supplementary feed (silage), and it adjoins the Applicant’s existing bulb processing facility. The Applicant intends to grow tulip bulbs on the Land, on a rotational basis, with the remainder used to grow supplementary feed or other crops (as part of a crop rotation plan). The investment is also likely to result in the creation of new jobs (to plant and harvest the bulbs), additional investment (for planting and harvesting) increased export receipts (exporting the bulbs to North America and Europe), and enhancing the viability of the Applicant’s tulip farming business (securing land to supply bulbs for the Applicant’s processing facility). Consent was granted to the investment because the benefit likely to occur as a result of the investment was considered to be substantial and identifiable. |
| More information | Rachel Lindsay AWS Legal (Invercargill) PO Box 1207 Invercargill |