Overseas investment decision for case 201510067 - Craigmore Farming NZ Limited Partnership | Toitū Te Whenua

Decision	Consent granted Section 12(a) Overseas Investment Act 2005
Decision Date	30 September 2015
Investment	An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 43 hectares of land at 84 Waimea Drive, Te Puke.
Consideration	$5,918,960
Applicant	Craigmore Farming NZ Limited Partnership Western European Public (76%) Various overseas persons (18.6%) New Zealand Public (5.4%)
Vendor	Lawrence (Gilbert Ian), Lawrence (Raewyn Esther) and Walkinton (Richard Bruce) New Zealand (100%)
Background	The Applicant, together with Trevelyans Pack and Cool Limited, intends to carry out development of the Land to realise the full potential of its associated Kiwifruit Orchard operation. 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)(iii) – Increased export receipts 17(2)(a)(iv) – Greater efficiency or productivity 17(2)(a)(v) – Additional investment for development purposes 17(2)(b) – Indigenous vegetation/fauna Overseas Investment Regulations 2005 28(e) – Previous investments 28(f) – Advance significant Government policy or strategy 28(i) – Economic interests
More information	Michael Beck Duncan Cotterill PO Box 5 CHRISTCHURCH