| Decision number | 200610040 |
|---|---|
| Application number | 200610031 |
| Date | 10 April 2006 |
| Offeror/applicant | Bishop New Zealand LLC and Taheke Trust joint venture |
| Ultimate applicant beneficial ownership | 72.5 percent - United States of America, Bishop (James de Forest) 27.5 percent - New Zealand, Jans (Bruce William) and Hawkes Bay Nominees Limited as trustee of the Taheke Trust |
| Beneficial overseas ownership | |
| - Asset current | 100 percent |
| - Asset proposed | 72.5 percent |
| - Share current | N/A |
| - Share proposed | N/A |
| Offeree(s)/seller(s) | Linden Estate Limited 100 percent - Canada, Cha (Brenda Lynne) |
| Business activities | Agriculture - Horticulture & Fruit - Viticulture |
| Details of land involved | 23.967 hectares of freehold situated at State Highway 5, Eskdale, Napier being CT 206468 (Hawkes Bay Registry). |
| Regions involved | Gisborne/Hawkes Bay |
| Total consideration | $1,570,000 |
| Consent sought | To acquire an interest in land which, either alone or together with any associated land of that type, is or includes non-urban land and exceeds 5 hectares in area. |
| Rationale | The application has been approved as it met the criteria. The Overseas Investment Office is satisfied that the individuals with control of the Applicant collectively have business experience and acumen relevant to the overseas investment, and that the Applicant has demonstrated financial commitment towards the overseas investment. The Overseas Investment Office is further satisfied that each individual that exercises control over the Applicant is of good character and is not an individual of the kind referred to in section 7(1) of the Immigration Act 1987. The Applicant is an unincorporated joint venture formed for the purposes of acquiring the vineyard and winery business known as the Esk River Winery. The Applicant proposes to further develop the vineyard and winery to produce quality wine for the export market and redevelop the existing restaurant into a function centre. The proposed developments include the replanting or re-grafting the grape vines into quality and/or improved cultivars to produce the necessary style and quality for export. |
| Contact | Robert Stewart Izard Weston PO Box 5348 WELLINGTON |