| Decision | Consent granted retrospectively Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 21 April 2015 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 6.9860 hectares of land at Tramway Road East, Edendale, Southland. |
| Consideration | $420,000 |
| Applicant | Triflor NZ Limited Gerardus Franciscus Hageman, Netherlands (26.6667%) Judith Maria van Dam, Netherlands (26.6666%) Hendrikus Maria van Dam, Netherlands (26.6666%) Semke David Jan Gerben Riepstra, Netherlands (20.0%) |
| Vendor | Wairau Agribusiness Investment Limited New Zealand (100%) |
| Background | The Applicant is a grower of tulip bulbs for export. The Applicant has obtained retrospective consent to acquire the land, which has accommodation for the Applicant’s employees, and is also used for growing peonies for export. 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 | Mark Deacon Sumpter Moore 5 Eden Street Milton 9220 |
| Retrospective penalty | $8,000 |