| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 13 March 2015 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 8.9585 hectares of land at Ellen Johnson Terrace, Lake Hayes, Queenstown; together with a 14/60th share as tenants in common in 149.2296 hectares of land at Marshall Avenue, Lake Hayes, Queenstown. |
| Consideration | $2,500,000 |
| Applicant | Justin Alan Crane and Kirsty Mactaggart United Kingdom (100.0%) |
| Vendor | Threepwood Nominees Limited Bruce Donald Gemmell, New Zealand (100.0%) |
| Background | The Applicant intends to undertake a major restoration of, and make additions to, the historic Threepwood Homestead to make it suitable as a long term residence. The Applicant also intends to fund and facilitate a wetland restoration project at Lake Hayes. 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 | John Brown Brown Partners Lawyers PO Box 1496 Shortland Street Auckland 1140 |