| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Date | 9 August 2017 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 13.2845 hectares of land at 60 and 74 Orchard Road, Edgecumbe, Whakatane. |
| Consideration | $6,630,000 |
| Applicant | Craigmore Permanent Crop Limited Partnership Germany (30.46%) Hong Kong (SAR) (24.45%) Switzerland (15.23%) United Kingdom (13.71%) Finland (9.14%) United States of America (3.96%) New Zealand (3.05%) |
| Vendor | Shaye Le Prou, Cole Shane Le Prou, and Cuvier Trustees Limited as trustees of the Cuvier Trust New Zealand (100%) |
| 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 operated as a kiwifruit orchard growing a combination of G3 and Hayward kiwifruit. The Applicant intends to improve orchard production and returns by planting additional G3 kiwifruit vines, converting the entire orchard to G3 organic kiwifruit production, and upgrading infrastructure. The benefits to New Zealand include:
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| More information | Oliver Roberts Duncan Cotterill PO Box 5 CHRISTCHURCH 8140 |