Overseas investment decision for case 201120034, 201210035, 201210036, 201210037 - Kingheim Limited

Overseas investments in sensitive land, being the Applicant's acquisition of a freehold interest in:

• 428.5465 hectares of land at Mangapapa Road Stratford (201120034);
• 745.6159 hectares of land at Tahora Road Stratford (201210035);
• 676.7772 hectares of land at 123 Prospect Road Stratford (201210036); and
• 154.2929 hectares of land at 7710 Ohura Road Stratford (201210037).

201120034: $1,350,000

201210035: $2,450,000

201210036: $1,550,000

201210037: $345,000

201120034:
Bruce Beverley Pease, Geoffrey Ernest Campbell and John Morris Walsh as Trustees of the Moki Trust 
New Zealand, 100%

201210035:
Craig Russell McCartie and Barry Stuart King as trustees of the Tahora Farms Trust No 1 and Alison McCartie and Barry Stuart King as trustees of the Tahora Farms Trust No 2
New Zealand, 100%

201210036:
Springcreek Limited
New Zealand, 100%

201210037:
Paul Graham Gilbert and Bailey Ingham Trustees Limited as trustees of the Paul Gilbert Trust
New Zealand, 100%

The Applicant is acquiring four neighbouring properties in the Stratford District. It intends to establish forestry on the land using a variety of different exotic species of trees including Walnut and Californian Redwood.

The overseas investment transactions have 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/Retention of jobs
17(2)(a)(ii) – New technology or business skills
17(2)(a)(v) – Additional investment for development purposes
17(2)(b) – Indigenous Vegetation/Fauna
17(2)(e) – Walking Access

Overseas Investment Regulations 2005
28(a) – Consequential Benefits
28(f) – Advance significant government policy or strategy
28(i) – Economic Interests