| Decision number | 200620004 |
|---|---|
| Application number | 200610101 |
| Date | 10 July 2006 |
| Offeror/applicant | Brandon Services (Electrical) Limited |
| Ultimate applicant beneficial ownership | 100 percent - Australia, Tomasi (Gianfranco and Attilia) |
| Beneficial overseas ownership | |
| - Asset current | 0 percent |
| - Asset proposed | 100 percent |
| - Share current | N/A |
| - Share proposed | N/A |
| Offeree(s)/seller(s) | Birtwistle (Paul and Joanne Helen) of New Zealand |
| Business activities | Lifestyle Property |
| Details of land involved | 2.2168 hectares of freehold situated at 111 Arthurs Point Road, Queenstown being CT OT16B/803 (Otago Registry). |
| Regions involved | Otago |
| Total consideration | $755,000 |
| 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 for consent has been refused as it was not considered to be in the national interest. 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 Applicant is part of the Southern Cross Electrical Engineering Group of companies which provides electrical contracting services within the heavy industrial manufacturing and mining industries. The subject land is adjacent to 4.1227 hectares already owned by the Applicant which is used for a management base for the Applicant's New Zealand operations and as a "holiday home" by the Applicant's shareholders, management and staff. The Applicant advises that the acquisition of the subject property will provide the Applicant with ease of access to their existing land. Furthermore, the acquisition is viewed as a prudent way for it to commence undertaking investments in land development/subdivision within New Zealand. The Applicant advises that it currently does not have any specific plans for the subdivision/development of the subject land. |
| Contact | Todd Whitcombe Anderson Lloyd Caudwell Private Bag 1959 DUNEDIN |