| Decision | Consent Granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 19 September 2013 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 6.5120 hectares of land at 277 Grasslands Drive, Cambridge. |
| Consideration | $950,000 |
| Applicant | NZ Rural Holdings Limited Benedict Nga-Yan Sin, Australia (100.0%) |
| Vendor | Bells Feed & Grain Limited Michele Louise Bell, New Zealand (50.0%) John William Bell, New Zealand (50.0%) |
| Background | The Applicant intends to further develop the bloodstock business operated on the property. This is likely to result in new job opportunities, increased exports of race horses from New Zealand and the introduction of additional capital for development purposes. The overseas investment transaction has satisfied the criteria in section 16 of the Overseas Investment Act 2005. The ‘benefit to New Zealand criteria’ were satisfied by particular reference to the following factors: Overseas Investment Act 2005 |
| More information | Martin Thomson DLA Phillips Fox PO Box 160 AUCKLAND |