| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 8 December 2009 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 6.7990 hectares of land at 1500 The Coastal Highway, Ruby Bay, Nelson. |
| Consideration | $1,568,750 |
| Applicant | Jones (Andrew Steven and Denise Jayne) United Kingdom (100.0%) |
| Vendor | Cherry Hill Properties Limited New Zealand (100.0%) |
| Background | The Applicants, though UK citizens, were granted New Zealand permanent residency in November 2005 and hold indefinite returning resident’s visas. However, they are considered overseas persons for the purposes of the Act as they are not ordinarily resident in New Zealand. The Applicants intend to reside in New Zealand indefinitely, and apply for consent on that basis. The overseas investment has satisfied the criteria in section 16 of the Overseas Investment Act 2005. |
| More information | Jeremy Barton Duncan Cotterill (Nelson) PO Box 827 NELSON 7040 |