| Decision number | 200710001 |
|---|---|
| Application number | 200620059 |
| Date | 24 January 2007 |
| Offeror/applicant | Smith (Andrew Johnson) of United States of America |
| Ultimate applicant beneficial ownership | 100 percent - United States of America |
| Beneficial overseas ownership | |
| - Asset current | 0 percent |
| - Asset proposed | 100 percent |
| - Share current | N/A |
| - Share proposed | N/A |
| Offeree(s)/seller(s) | Coddington (Peter Howes and Ngaire Rangikao) of New Zealand |
| Business activities | Accommodation - Other |
| Details of land involved | 13.9 hectares of freehold situated at 300 Whaanga Road, Raglan being CT SA72C/3 (South Auckland Registry). |
| Regions involved | Waikato |
| Total consideration | $840,000 |
| 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 Applicant proposes to acquire the subject land to establish a Health Spa and Conference Centre facility. The subject land contains an area of land established in plantation pines and an area of native bush subject to a conservation covenant. The proposed facility includes 12 two-bed units, a restaurant, full-service spa, and a manager’s house, and will be designed to blend into the environment. The application for consent has been declined as the Overseas Investment Office was not satisfied that all of the criteria in section 16 of the Overseas Investment Act 2005 have been met. The Overseas Investment Office was not satisfied that the proposal will or is likely to result in substantial and identifiable benefits to New Zealand, or any part of it or group of New Zealanders. |
| Contact | Brian Braatvedt Lawyer PO Box 9055 HAMILTON |