| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 20 November 2012 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 4.4636 hectares of land at Jacks Point, Queenstown. |
| Consideration | $1,563,000 |
| Applicant | Alexander and Jayne Kim Schrantz Alexander Schrantz, United States of America (50%) Jayne Kim Schrantz, United States of America (50%) |
| Vendor | Alfia Dance United Kingdom (100%) |
| Background | Mr and Mrs Schrantz seek to purchase the land to build a residence for their own use and will make donations to allow for the further development of the public walking/cycling track on the land. Mr and Mrs Schrantz will also make a donation towards research materials for one or more local schools or libraries in the Wakatipu Basin. The overseas investment transaction has satisfied the criteria in section 16 of the Overseas Investment Act 2005. The 'benefit to New Zealand' criterion was satisfied by particular reference to the following factors: Overseas Investment Act 2005 Overseas Investment Regulations 2005 |
| More information | Lesley Brook Anderson Lloyd Lawyers Private Bag 1959 DUNEDIN 9016 |