Applicant
Oregon Nurseries Limited
Case number(s)
200810043
Decision date
Type
Decision
Decision number200810043
Application number200720137
Date15 May 2008
Offeror/applicantOregon Nurseries Limited
Ultimate applicant beneficial ownership100 percent - Malaysia, Tiong Family
Beneficial overseas ownership 
- Asset current0 percent
- Asset proposed100 percent
- Share currentN/A
- Share proposedN/A
Offeree(s)/seller(s)Fords Nurseries Limited
100 percent - New Zealand, Ford (Adrian and Elaine Mary)
Business activitiesAgriculture - Horticulture & Fruit - Floriculture/Nursery
Details of land involved5.6302 hectares of freehold situated at Ferry Road, 1RD, Oamaru being CT 379567 (Otago Registery).
Regions involvedOtago
Total consideration$427,500
Consent soughtTo acquire an interest in land which, either alone or together with any associated land of that type, is or includes non-urban land and exceeds 5 hectares in area.
Rationale

The application has been approved as it met the criteria.

The Overseas Investment Office is satisfied that the individuals with control of the Applicant collectively have business experience and acumen relevant to the overseas investment, and that the Applicant has demonstrated financial commitment towards the overseas investment.

The Overseas Investment Office is further satisfied that each individual that exercises control over the Applicant is of good character and is not an individual of the kind referred to in section 7(1) of the Immigration Act 1987.

Background to the Investment:
Oregon Nurseries Limited owns the land that adjoins the land the subject of this application (Adjoining Land) and currently operates a containerised seedling facility on the Adjoining Land.

Outline of the investment:
The Applicant wishes to purchase the freehold interest in the land including all plant and machinery and all stock on the land (Land). A "bare root" seedling facility is currently operated on the Land.

Rationale for the Investment:
The Applicant wants to acquire the Land to:

  1. Consolidate operations on the Land and the Adjoining Land to provide both containerised and "bare-root" seedling sales.
  2. Increase efficiency by eliminating duplication of administration, management, and machinery, and reduce dumping of unsold containerised seedlings by allowing the seedlings to be transplanted on the Land to be acquired.
  3. Provide a "one stop shop" for clients seeking to purchase containerised and bare-root seedlings.

The proposed overseas investment is or is likely to benefit New Zealand (or any part of it or group of New Zealanders) having regard to the following benefits:

Overseas Investment Act 2005:
s17(2)(a)(iii) -Increased efficiencies in the Applicant's business.
s17(2)(a)(v) -Introduction into New Zealand of additional investment for development purposes.

Overseas Investment Regulations 2005:
r28(c)(i) -Adversely affect New Zealand's image overseas.
r28(e) -Previous investments of benefit to New Zealand.
r28(g) -Enhance previous investments undertaken by the relevant overseas person.

ContactDeirdre Norris
Glaister Ennor
P O Box 63
AUCKLAND