| 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 | 3 December 2018 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 59.1889 hectares of land on Cooper Road, Patutahi, Gisborne |
| Consideration | $4,860,000 |
| Applicant | Craigmore Permanent Crop Limited Partnership Hong Kong (SAR) (29.87%) Germany (29.05%) United Kingdom (28.49%) Finland (6.81%) United States of America (3.52%) New Zealand (1.72%) Ireland (0.47%) Various overseas persons (0.07%) |
| Vendors | D.W. Briant Limited Peter Donald Briant and Nicholas Anthony Bunting (as trustees of the Briant Farms Trust) |
| Background | The Applicant is a limited partnership established as a horticulture investment vehicle and is part of the wider Craigmore Farming Group. The land being acquired is currently being used for growing approximately 8.6 hectares of grapes and leasing the remaining arable land for growing annual crops and pastoral grazing. The Applicant intends to develop approximately 33 hectares of the land into an apple orchard and continue growing the same volume of grapes. The benefits to New Zealand once the apple orchard has reached maturity include:
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| More information | Oliver Roberts/Phoebe Davies Duncan Cotterill PO Box 5 CHRISTCHURCH 8140 |