| Decision | Consent Granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 27 September 2010 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 225.8145 hectares of land at Wairoa Gorge, Nelson. |
| Consideration | $595,000 |
| Applicant | RHL NZ Limited Belize (100.0%) |
| Vendor | George Alan Reese New Zealand (100%) |
| Background | The Applicant has recently acquired adjoining land to develop into a mountain bike park with trails and a lodge for accommodation purposes (Refer Case 201010035). This land will increase the area of the mountain bike park so that more trails can be added. A New Zealand company, NZ Trail Solutions Limited, has been engaged by the Applicant to assist in managing the land, the entire trail building process, development, maintenance (including pest control) and other matters relating to the proposed accommodation lodge. 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 | Paul Dorrance Duncan Cotterill (Christchurch) PO Box 5 CHRISTCHURCH |