| Decision number | 200620001 |
|---|---|
| Application number | 200610108 |
| Date | 4 July 2006 |
| Offeror/applicant | Truelove (Henry & Margaret Ann) of United Kingdom |
| Ultimate applicant beneficial ownership | 100 percent - United Kingdom |
| Beneficial overseas ownership | |
| - Asset current | 0 percent |
| - Asset proposed | 100 percent |
| - Share current | N/A |
| - Share proposed | N/A |
| Offeree(s)/seller(s) | Mackway-Jones (Gary Jones and Ainslie Ngaire) and Nicolson (Edwin Alan) as trustees of the Mackway-Jones Family Trust of New Zealand |
| Business activities | Agriculture - Horticulture & Fruit - Floriculture/Nursery |
| Details of land involved | 8 hectares of freehold situated at 196 Tinwald-Westerfield Road, Ashburton being CT CB47D/334 (Canterbury Registry). |
| Regions involved | Canterbury |
| Total consideration | $720,056 |
| Consent Sought | To 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 Applicants have business experience and acumen relevant to and are demonstrating financial commitment towards the investment. The Overseas Investment Office is further satisfied that the Applicants are of good character and not the kind of persons referred to in section 7(1) of the Immigration Act 1987. The Applicants have been granted New Zealand Long Term Business Visas and intend to reside permanently in New Zealand. The Applicants propose to acquire the subject property upon which lucerne is grown and a commercial Calla Lily operation is operated. The Applicants' business plan proposes increasing productivity of the property by growing vegetables and setting up a free range unit for hens. The Applicants are intending to reside indefinitely in New Zealand and have applied for and will be taking up New Zealand permanent residency. |
| Contact | Annabel Sheppard/David Haigh Wynn Williams & Co PO Box 4341 CHRISTCHURCH |