| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 14 May 2019 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 878 hectares of land at 77 Mataikona Road, Whakataki, Tinui, Wairarapa. |
| Consideration | $4,850,000 |
| Applicant | Blue Carbon Services Limited Australia 100% |
| Vendor | Murdoch James Trustee Limited as trustee of the Murdoch James and Z Trust Charlie Zheng, New Zealand (75%) Nan Li, New Zealand (25%) |
| Background | The Applicant, Blue Carbon Services Limited, is wholly owned by Robert Hickson, an Australian citizen. The investment is the acquisition of a freehold interest in approximately 878 hectares of sensitive land on the East Wairarapa coast known as “Waio Station”. The land is used for sheep and beef farming, which will continue under the investment. Mr Hickson currently resides and works in New Zealand and his partner Robyn Cornford intends to move here in July. They have satisfied the OIO, through providing definite plans with supporting evidence, that they intend to reside in New Zealand indefinitely. Overseas persons intending to reside in New Zealand indefinitely are not required to show that their investment in sensitive land is likely to benefit New Zealand. This supports migrants in the process of moving to New Zealand to make New Zealand their home. |
| More information | Catherine Reid Barrister catherine@catherinereid.co.nz |