| Decision | Consent Granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 31 March 2010 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 0.8505 hectares of land at Jacks Point, State Highway 6, Queenstown to Kingston Highway, Lake Wakatipu. |
| Consideration | $1 |
| Applicant | Jacks Point Residents and Owners Association Incorporated Lifestyles of NZ, New Zealand (33.68%) Budfin Nominees Limited, New Zealand (25.95%) New Zealand Public (15.7871%) Australian Public (8.0141%) Various overseas persons (16.5593%) North American Public (0.0096%) |
| Vendor | Jacks Point Limited Budfin Nominees Limited, New Zealand (100.0%) |
| Background | The Applicant already owns and manages common land (open spaces and access areas) and associated infrastructure on behalf of the owners and residents of Jacks Point. The land being acquired will be amalgamated with the adjoining open space lots and access road within the Jacks Point development. The overseas investment transaction has satisfied the criteria in section 16 of the Overseas Investment Act 2005. |
| More information | Lesley Brook Anderson Lloyd Lawyers (Dunedin) Private Bag 1959 DUNEDIN 9016 |