| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 13 March 2012 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 57.4982 hectares of land at 384 Collinson Road, Tussock Creek, Southland. |
| Consideration | $2,100,100 |
| Applicant | Premier Dairies LimitedBalreask Trust, Ireland (100.0%) |
| Vendor | D. F. Drew Farm Limited Drew (Desmond Francis & Kathleen Cecilia), New Zealand (100.0%) |
| Background | The land in question is bounded on its eastern side by land already owned and dairied by the Applicant Premier Dairies Limited. The Applicant also owns land across Makarewa-Browns Road which it dairies. The purchase and amalgamation of the land will allow the Applicant to "swap" some land from one milking platform to another. This will balance up the use of cow shed facilities on the applicant's existing land and avoid the need for cows to cross Makarewa Browns Road for milking. 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 | John F C Henderson Evans Henderson Woodbridge (Marton) PO Box 326 MARTON |