Decision | Consent granted Section 12(b) Overseas Investment Act 2005 |
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Decision date | 13 August 2013 |
Investment | An overseas investment in sensitive land, being the Applicants’ acquisition of rights or interests in 26% of the shares (Schimanski Wealth Management New Zealand Limited as to 25% and JP Investments (NZ) Limited as to 1%) of Creekside Olive & Wine Orchard Limited which owns or controls a freehold interest in approximately 8 hectares of land at 770 Rapaura Road, Marlborough. |
Consideration | $780,000 |
Applicant |
Schimanski Wealth Management New Zealand Limited JP Investments (NZ) Limited |
Vendor |
Unirent (Pacific) Limited Vladi Private Islands (Pacific) Limited |
Background |
The Applicants intend to continue to develop and promote the wine, olive and homestay business carried out on the land. 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 | Brian G Coburn Hesketh Henry Private Bag 92093 AUCKLAND |