Applicant
Hokitika Rimu Treetop Walk LP
Case number(s)
201210100
Decision date
Type
Decision
DecisionConsent granted retrospectively
Section 12(a) Overseas Investment Act 2005
Decision date23 August 2012
Investment

An overseas investment in sensitive land, being the Applicant's acquisition of:

  • a freehold interest in 9.1695 hectares of land at Woodstock-Rimu Road, Hokitika; and
  • a leasehold interest in 1.2600 hectares of land at unregistered lease of parts of Part Rural Section 6031 and part Reserve 1056.
Consideration$200,000
ApplicantHokitika Rimu Treetop Walk LP
Shane Abel Family Trust, Australia (28.26%)
Australian Public (26.35%)
Neil Wade Family Trust, Australia (20.0%)
Viewpoint Investments Tasmania Pty Limited, Australia (9.94%)
N Wade Family Trust #2, Australia (8.26%)
Netco Limited, Australia (7.19%)
Vendor

Ray Carroll
New Zealand (100%)

Department of Conservation
The Crown, New Zealand (100.0%)

Background

The Applicant seeks to create an elevated walk in the canopy of a rainforest in the Lake Mahinapua Scenic Reserve on the West Coast of New Zealand. This will provide visitors with a 450 metre long walk 20-30 metre’s off the ground, culminating in a spiral tower 40 metres above the forest floor.

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) – Creation of jobs
17(2)(a)(ii) – New technology or business skills
17(2)(a)(iii) – Increased export receipts
17(2)(a)(v) – Additional investment for development purposes
17(2)(e) – Walking access

More informationLesley Brook
Anderson Lloyd Lawyers
Private Bag 1959
DUNEDIN 9016
Retrospective penalty$2000