| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Date | 9 February 2017 |
| Investment | An overseas investment in sensitive land, being the Consent Holder's acquisition of leasehold interests in 10,759.8303 hectares of land at Hunter Valley Station, contained in a Pastoral Lease and a Special Lease. |
| Consideration | $17,500,000 |
| Applicant | Orange Lakes (NZ) Limited United States of America (100%) |
| Vendor | Hunter Valley Station Limited Donald Mackenzie Cochrane, Penelope Lyall Cochrane, and Anthony Thomas McCleary as trustees of the Hunter Valley Trust, New Zealand (47.5%) Donald Mackenzie Cochrane, New Zealand (37.5%) Penelope Lyall Cochrane, New Zealand (15.0%) |
| Background | The Consent Holder plans to continue a sheep and cattle farming operation on the land, and intends that its capital contributions will enable the farm’s production to be significantly enhanced. In addition, the Consent Holder has demonstrated its willingness to facilitate, as lease holder, public access to several important sites on or around the Land. The overseas investment transaction has satisfied thecriteriain section 16 of the Overseas Investment Act 2005. The 'substantial and identifiable benefit to New Zealand' criteria were satisfied by particular reference to the following factors: Overseas Investment Act 2005 Overseas Investment Regulations 2005 |
| More information | Graeme Todd GToddLaw P O Box 124 Queenstown 9348 |
| Notice of decision | - Case 201610030 - Hunter Valley Station/Orange Lakes (NZ) Limited (PDF 241KB) |