Applicant
RHL NZ Limited
Case number(s)
201320026
Decision date
Type
Decision
DecisionConsent granted
Section 12(a) Overseas Investment Act 2005
Decision date19 November 2013
InvestmentAn overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 295.0158 hectares of land at Wairoa Gorge, Nelson (“the Land”).
Consideration$750,000
ApplicantRHL NZ Limited
Belize (100%)
VendorC-Scape Farms Limited
Stephen Craig Cary, New Zealand (76.0%)
Renee Cary, United States of America (24.0%)
Background

The Applicant has previously built a mountain bike trail adjacent to the Land at Wairoa Gorge. The Applicant intends to acquire the Land to extend the existing mountain bike trail.

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
17(2)(a)(i) – Jobs
17(2)(a)(v) – Additional investment for development purposes
17(2)(b) – Indigenous vegetation/fauna

Overseas Investment Regulations 2005
28(e) – Previous investments
28(g) – Enhance the viability of other investments

More informationAmy Laird
Duncan Cotterill
PO Box 5
CHRISTCHURCH