| Decision | Consent Granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 27 May 2010 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 303.5142 hectares of land at Wairoa Valley, Left Branch, Nelson. |
| Consideration | $550,000 |
| Applicant | RHL NZ Limited Belize (100.0%) |
| Vendor | Anthony Mark Irvine and Brett Steven Irvine as trustees of the Left Branch Trust New Zealand (100%) |
| Background | The Applicant proposes to acquire and develop the land into a mountain bike park with trails and a lodge for accommodation purposes. A New Zealand company, NZ Trail Solutions Limited, will be engaged by the Applicant to assist in managing the land, the entire trail building process, development (including the replanting of trees that have been logged by the Vendor), 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 | Amy Laird Duncan Cotterill (Christchurch) PO Box 5 CHRISTCHURCH |