| Decision number | 200610078 |
|---|---|
| Application number | 200610063 |
| Date | 15 June 2006 |
| Offeror/applicant | Percy (John Edward Christopher) and Whateley (Elaine Grace) of Australia |
| Ultimate applicant beneficial ownership | 100 percent - Australia |
| Beneficial overseas ownership | |
| - Asset current | 0 percent |
| - Asset proposed | 100 percent |
| - Share current | N/A |
| - Share proposed | N/A |
| Offeree(s)/seller(s) | Wells (Richard Frank) and Haines (Claire Lesley) and Dangerfield (Geoffrey Mark) and Douglas (Claire Linda) of New Zealand |
| Business activities | Lifestyle Property |
| Details of land involved | 0.2329 hectares of freehold situated at Ruakaka Bay, Queen Charlotte Sound being CT MB1D/766 (Marlborough Registry). |
| Regions involved | Nelson/Marlborough |
| Total consideration | $600,000 |
| Consent sought | To acquire an interest in land which, either alone or together with any associated land, exceeds 0.4 hectares and adjoins land that is listed, or in a class listed, as a reserve, a public park, or other sensitive area by the regulator under section 37. |
| 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 Applicants intend to reside permanently in New Zealand and the reason for the purchase of this section of land is to ensure the land remains in its natural state and not developed thereby maintaining the environment within Ruakaka Bay and the immediate vicinity. The Applicants already own the two properties that flank either side of the subject land. These two properties have been owned by the applicants for approximately 10 and 4 to 5 years respectively. The subject land will be for private use and not for commercial use. The Applicants are demonstrating a commitment to New Zealand through intending to reside in New Zealand indefinitely. |
| Contact | Tom Pivac Macalister Mazengarb PO Box 927 WELLINGTON |