| Decision number | 200610057 |
|---|---|
| Application number | 200610061 |
| Date | 17 May 2006 |
| Offeror/applicant | Government of French Polynesia |
| Ultimate applicant beneficial ownership | 100 percent - Tahiti |
| Beneficial overseas ownership | |
| - Asset current | 0 percent |
| - Asset proposed | 100 percent |
| - Share current | N/A |
| - Share proposed | N/A |
| Offeree(s)/seller(s) | Rocklands Park Limited 20 percent - New Zealand, Elliott (Colin Grant and Grant Rhys) as trustees of The Boyd Rhys Trust 20 percent - New Zealand, Pooch (David Leslie), Wood (Brendan Timothy), and Harris (Bryce) as trustees of The Paolo Pucci Trust 20 percent - New Zealand, Stafford-Bush (Brian Robert and Patricia Mary) and Rob Willis Trustee Services Limited as trustees of the Little Herons Trust, and the Bush Sapling Trust 10 percent - New Zealand, Rainey (Kevin Allan) 10 percent - New Zealand, Samuel (Sheryl Anne) 10 percent - New Zealand, Samuel (Madge Mary) 10 percent - New Zealand, Samuel (David Logan) |
| Business activities | Accommodation - Other |
| Details of land involved | 0.8008 hectares of freehold situated at 187 Gillies Avenue, Epsom, Auckland being CT 77028 (North Auckland Registry). |
| Regions involved | Auckland |
| Total consideration | $7,600,000 |
| Consent sought | To acquire an interest in land which, either alone or together with any associated land of that type, exceeds 0.4 hectares and is or includes a historic place, historic area, wahi tapu, or wahi tapu area that is registered or for which there is an application or proposal for registration under the Historic Places Act 1993. |
| 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. The land contains a historic homestead and four residential blocks containing 169 rooms known as Rockland's Hostel. The Government of French Polynesia proposes to acquire the land for use to host official functions and to establish a presence in New Zealand to encourage ties between French Polynesia and New Zealand. The accommodation will provide accommodation for French Polynesian students, and nationals and their families in need of medical treatment in New Zealand. The proposal is likely to result in the following benefits:
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| Contact | Manu Bhanabhai Dyer Whitechurch PO Box 5547 AUCKLAND |