| Decision |
Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker |
The Minister for Land Information and the Associate Minister of Finance |
| Decision Date | 17 December 2020 |
| Pathway(s) | Sensitive land- substantial and identifiable benefit to New Zealand |
| Investment |
An overseas investment in sensitive land, being the Applicant's acquisition of:
|
| Consideration | USD $32,750,000 |
| Applicant |
LLNZ Huka Lodge Limited |
| Vendor |
Worldwide Leisure Limited Alex van Heeren and Beattie Rickman Trustee Company Limited, as trustees of the Huka Trust New Zealand |
| Background |
The Applicant is a subsidiary of a US private equity fund which invests exclusively in travel and leisure investments and intends to acquire a freehold interest in approximately 11.96 hectares of land at Taupo (Land). The Huka Lodge business is operated on the Land. The Applicant intends to continue operation of the Huka Lodge business and expand the main lodge and develop new spa and gym facilities. The main benefits to New Zealand include the creation of approximately 4 new permanent full-time roles and 25 temporary full time roles; an increase in export receipts due to the Applicant’s extensive and established distribution network; advancement of Tourism NZ’s Premium Sector Strategy and the introduction into New Zealand of additional investment. |
| More information |
Catherine Reid Paul Farry |
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