| Decision | Consent Granted Section 12(b) Overseas Investment Act 2005 |
|---|---|
| Decision date | 15 December 2010 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of rights or interests in up to 100.0% of the units of Avondale Pastoral Limited Partnership which owns or controls a freehold interest in 141.4470 hectares of land at 1799 Avondale Rd, Winton, Southland. |
| Consideration | $4,050,000 |
| Applicant | DAH Beteiligungs GmbH Daniel Wolfgang Hopp, Germany (100.0%) |
| Vendor | John Joseph Hickman and Tracey Ann Hickman as trustees for the Avondale Trust New Zealand (100%) |
| Background | The Applicant also proposes to acquire (through its unit holding in Avondale Pastoral Limited Partnership) an indirect interest in an adjacent 450.3653 hectare property at 1799 Avondale Road, Winton, Southland. This property is the subject of a separate application for consent (Case 201020042). It is intended that the two farms will be operated as one expanded dairy farm. The Applicant’s director and advisors have identified New Zealand as a country with a good economic and stable political system, with agriculture playing a significant part of the economy. 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 |
| More information | Charlie Brown Rhodes & Co. PO Box 13444 CHRISTCHURCH |