Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
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Decision date | 9 July 2013 |
Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 2,737.2141 hectares of land at Ben Avon Station, Ahuriri Valley, Waitaki. |
Consideration | $6,500,000 |
Applicant | Paroa Bay Winery Limited Richard Anthony Magides, United Kingdom (100.0%) |
Vendor | James Harding Crosby Morris and Mary Ann Morris Ben Avon Run Co. Limited |
Background | The Applicant will continue to operate Ben Avon Station as a sheep and beef station, and will develop an exclusive 8 room luxury wilderness lodge on the land which will offer guided hunting, fishing, horse riding and snow sports in the Ahuriri Valley. 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 | Matthew Edwards Berry & Co PO Box 179 QUEENSTOWN 9348 |