| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 20 February 2014 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 741 hectares of land located at Renners and Castles Road, Awatere Valley, Marlborough (Castlebrae Farm). |
| Consideration | $12,800,000 |
| Applicant | Ling Hai Group Limited Zongren Ling and family, China, People's Republic of (100%) |
| Vendor | Geoffrey Arnold Marfell, David Edward Marfell and Castlebrae Vineyards Limited New Zealand (100%) |
| Background | The Applicant intends to acquire the land as part of its long term investment in the New Zealand wine and tourism industry. The Applicant intends to expand a vineyard located on the land, build a winery and construct new accommodation for visitors. More than half of the land will continue to be farmed for pastoral purposes. 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 | Andrew Petersen Bell Gully PO Box 4199 AUCKLAND 1140 |