| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Date | 5 July 2017 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 4.0391 hectares of land at 13 Carlin Creek, Lakeside Estates, Queenstown. |
| Consideration | $820,000 |
| Applicant | Edgar Henry Bachrach as Trustee of the Edgar H Bachrach Trust Edgar Henry Bachrach, United States of America (100%) |
| Vendor | C Mulgrew, B Mulgrew & S Dolan Belinda Margaret Mulgrew, Craig Stephen Mulgrew and Shane Christopher Dolan as trustees of a trust, New Zealand (50%) Craig Stephen Mulgrew, Belinda Margaret Mulgrew and Shane Christopher Dolan as trustees of a trust, New Zealand (50%) |
| Background | The overseas investment involves the acquisition of a freehold interest in a 0.4231 hectare lifestyle block and an undivided 1/39th interest in a further 3.616 hectares of common land. The land is contained within a residential subdivision. The Applicant intends to acquire the land for the purpose of building a holiday house. The Applicant will undertake a planting and a pest control programme on the land. As a result of the investment the Applicant will also provide support to the Wakatipu Search and Rescue. |
| More information | Elliot Goldman Goldman Legal PO Box 1399 Queenstown |