| Decision | Consent granted Section 12(b) Overseas Investment Act 2005 |
|---|---|
| Decision date | 9 February 2009 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of rights or interests in 50.0% of the shares of Fish Hook Limited which owns or controls a freehold interest in 9.5300 hectares of land at State Highway 6, Luggate-Cromwell Road, Wanaka. |
| Consideration | $125,000 |
| Applicant | Timothy James Cooper Australia (100.0%) |
| Vendor | Convince New Zealand Limited New Zealand (100.0%) |
| Background | Fish Hook Limited has been incorporated to develop a vineyard on the relevant land for the production of grapes and wine. It is intended that 6 hectares of the land will be planted with grapes to ultimately produce Pinot Noir and Pinot Gris wine. The Applicant views the acquisition of the shares in Fish Hook Limited as a way of diversifying his personal investment portfolio. 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 | Elliot Goldman Macalister Todd Phillips PO Box 653 QUEENSTOWN |