| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Date | 17 November 2015 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 595.0231 hectares of land at 152 Bakers Road, Waikaretu. |
| Consideration | $7,100,000 |
| Applicant | Weihai Station Limited Peihuan Wang, China, People's Republic of (44.56%) China Public (35.24%) Yuanhui Fu, China, People's Republic of (14.09%) Aiguo Zhang, China, People's Republic of (6.11%) |
| Vendor | Christopher Gary Deane, Kerry Anthony Deane and Mark Peter Deane as trustees of the Deane Farms Trust New Zealand (100%) |
| Background | The Applicant is purchasing a sheep and beef farm to continue current farming operations and increase maintenance and development on the land in order to run the farm at its optimal level. The Applicant also intends to build a lodge on the land which will be primarily used as a training and development facility and as a tourism resort for related business people. 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 Act 2005 Overseas Investment Regulations 2005 |
| More information | Catherine Reid Gibson Sheat PO Box 2966 Wellington |
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