| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Date | 11 February 2016 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 20.2342 hectares of land at 156 Kerrytown Road, Timaru. |
| Consideration | $1,300,000 |
| Applicant | Kerrytown Road Orchards LP Bruce Douglas Allen and Julie Marie Allen, United States of America (25.0%) Dalton Blake Thomas and Pamela Lee Thomas, United States of America (25.0%) Walter George Meyer, William Jeffrey Meyer, Robert Scott Meyer and Megan Meyer Tweedy, United States of America (25.0%) Christopher Linder Clark, United States of America (24.85%) Gregory DeCicio Clark, United States of America (0.15%) |
| Vendor | Moffat (Stuart Douglas) and Moffat (Dale Gloria) New Zealand (100%) |
| Background | The Applicant is acquiring the land to establish a Honeycrisp variety apple orchard. The Applicant intends to export the majority of apples produced, primarily to the USA. The Applicant considers South Canterbury's temperate climate ideal for growing Honeycrisp apples. The overseas investment transaction has satisfied the criteria in 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 Regulations 2005 |
| More information | Ken Grave Gresson Dorman & Co PO Box 244 TIMARU 7940 |