| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 9 September 2009 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 9.9022 hectares of land at 176 Kina Peninsula Road, RD1, Upper Motueka, Nelson. |
| Consideration | $4,600,000 |
| Applicant | EPF Limited Austria (100.0%) |
| Vendor | Linley Thelma Taylor, John Stuart Taylor, Alain David Swain and Barbara Joyce Mackay as trustees of the John and Linley Taylor Family Trust New Zealand (100.0%) |
| Background | The property contains an olive grove and the Applicant intends to continue to cultivate and harvest the olives for pressing as olive oil. In addition, the Applicant will begin to export the olive oil and increase the number of olive trees planted. 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 |
| More information | Alison Weaver Gascoigne Wicks PO Box 2 BLENHEIM |