| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 3 November 2014 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 14.0957 hectares of land at 476 Falvey Road, Levels, Timaru. |
| Consideration | $500,000 |
| Applicant | Falvey Orchards LP Walter George Meyer, United States of America (30.006%) Bruce Douglas Allen, United States of America (29.997%) Christopher Linder Clark, United States of America (29.817%) New Zealand Public (5.0%) United States Public (5.0%) Gregory DeCicio Clark, United States of America (0.18%) |
| Vendor | Tonemace Farming Company Limited Kevin Dixon Cahill, New Zealand (94.0%) Megan Joan Samuel, New Zealand (6.0%) |
| Background | The Applicant is acquiring the land to develop into an apple orchard. The Applicant will grow ‘Honeycrisp’ variety apples for export, principally to the United States. 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 | Ken S Grave Gresson Dorman & Co PO Box 244 TIMARU 7940 |