Applicant
Elka Gouzer-Waechter
Case number(s)
201110014
Decision date
Type
Decision
DecisionConsent granted
Section 12(a) Overseas Investment Act 2005
Decision date16 March 2011
InvestmentAn overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 32.3490 hectares of land at Lot 1 DP 323083 Mataka Station, Purerua Peninsula, Northland.
Consideration$1,200,000
ApplicantElka Gouzer-Waechter
Switzerland (100%)
VendorWestpac New Zealand Limited as Mortgagee
Australian Public (92.86%)
New Zealand Public (7.14%)
Background

The Applicant is purchasing the land as a holiday retreat. It is one of thirty lifestyle lots within the Mataka Development which was established on the Purerua Peninsula in 2002. The sale of individual lots provides capital for the communal farming and conservation programmes which are an integral part of the development.

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/Retention of jobs
17(2)(b) – Enhanced protection of indigenous Vegetation/Fauna
17(2)(c) – Enhanced protection of the habitats of protected wildlife and game

Overseas Investment Regulations 2005
28(a) – Consequential Benefits
28(c) – Refusal likely to affect New Zealand’s image abroad

More informationChristopher Green
Chapman Tripp (Auckland)
PO Box 2206
AUCKLAND 1140