| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 16 June 2015 |
| Investment | An overseas investment in sensitive land, being the Applicant’s acquisition of a freehold interest in approximately 304.9058 hectares of land at 245 Upper Retaruke Road, Retaruke (“Land”). |
| Consideration | $1,800,000 |
| Applicant | Blue Duck Redwoods Company Lee Maurice Holmes, Guam (99.1%) Ann Silliman Holmes, Guam (0.3%) Bryan Lee Holmes, Guam (0.3%) Mark Snyder Holmes, Guam (0.3%) |
| Vendor | Gregory Shaw, Siwan Haf Shaw and Bailey Ingham Trustees Limited New Zealand (100%) |
| Background | The Applicant intends to acquire the Land and establish a Redwood forest on the Land. The Applicant also intends to assist with the indigenous vegetation/fauna on the Land (the Retaruke River runs adjacent to the Land). 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 | Scott Whitaker Duncan Cotterill PO Box 5 Christchurch 8140 |