Overseas investment decision for case 201320002 - Helena Bay Holdings Limited | Toitū Te Whenua

Decision	Consent granted Section 12(a) Overseas Investment Act 2005
Decision Date	11 November 2015
Investment	An overseas investment in sensitive land, being the Applicant’s acquisition of a leasehold interest in approximately 88.1019ha of Maori freehold land at Russell Road, RD 4, Hikurangi ("Land").
Consideration	$692,010
Applicant	Helena Bay Holdings Limited Alexander Abramov, Russia (100%)
Vendor	Trustees of the Paremata Mokau A13 Ahu Whenua Trust as lessor New Zealand (100%)
Background	The Land is currently owned by the trustees of the Paremata Mokau A13 Ahu Whenua Trust. The Applicant seeks consent to enter into a long term lease over the Land. The Applicant intends to farm the Land and undertake capital improvements to the Land. On termination of the lease, the Land and improvements will be returned to the trustees of the Paremata Mokau A13 Ahu Whenua Trust. 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 17(2)(a)(i) – Jobs 17(2)(a)(v) – Additional investment for development purposes 17(2)(b) – Indigenous vegetation/fauna 17(2)(d) – Historic heritage Overseas Investment Regulations 2005 28(a) – Consequential benefits 28(e) – Previous investments
More information	David Gilbert Minter Ellison Rudd Watts PO Box 3798 AUCKLAND 1140