| Decision | Consent Granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 19 May 2010 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 427.5445 hectares of land at Waitaria Bay, Kenepuru Sound, Marlborough Sounds. |
| Consideration | $7,749,711 |
| Applicant | Stanley Vester Simpson United States of America (100%) |
| Vendor | Bayview Farms Vineyard and Winery Limited Melanie Ayling, New Zealand (100.0%) |
| Background | The land is currently operated as a deer farm and vineyard. The Applicant intends to continue to operate the deer farm and vineyard. However, the Applicant will also explore new ways to generate revenue from the land through further diversification of the existing operations. The Investment will benefit New Zealand by creating employment for a farm manager, protecting an area of existing significant indigenous vegetation, and creating walking access over the land to a scenic reserve of national significance. The overseas investment transaction has satisfied the criteria in sections 16 and 18 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 |