Applicant
CONFIDENTIAL
Case number(s)
200820010
Decision date
Type
Decision
Decision number200820010
Application number200810061
Date16 July 2008
Offeror/applicantCONFIDENTIAL
Ultimate applicant beneficial ownership99 percent - Australia, Australian Public
0.77 percent - New Zealand, New Zealand Public
0.23 percent - Various, Various overseas persons
Beneficial overseas ownership 
- Asset current0 percent
- Asset proposed99.23 percent
- Share currentN/A
- Share proposedN/A
Offeree(s)/seller(s)Haigh, (William Oswald & Denise Winnifred) and Webb Ross Johnson Trustees Limited 34 percent - New Zealand, New Zealand Public
33 percent - New Zealand, Haigh (Denise Winnifred)
33 percent - New Zealand, Haigh (William Oswald)
Business activitiesWholesale & Retail Trade
Details of land involved0.4413 hectares of freehold situated at 8 and 12 Butler Road, Kerikeri being CTs NA21C/1444 and NA21C/1443 (North Auckland Registry).
Regions involvedNorthland
Total considerationCONFIDENTIAL
Consent soughtTo 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.

Background to the Investment
The Applicant is seeking to expand its operations across New Zealand.

Outline of the Investment
The land is being acquired to enable the Applicant to implement its business investment plans.

Rationale for the Investment
The Applicant seeks to increase its presence in the area.

The proposed investment will or is likely to benefit New Zealand (or any part of it or group of New Zealanders) having regard to the following factors:

Overseas Investment Act 2005:
s17(2)(a)(i) - Creation of job opportunities.
s17(2)(a)(iv) - Added market competition.
s17(2)(a)(v) - Additional investment for development purposes.

Overseas Investment Regulations 2005:
r28(a) - Consequential benefits.
r28(c) - Adversely affect New Zealand's image overseas.
r28(e) - Previous investments of benefit to New Zealand.

ContactEdward Dunphy/Tariq Iman
Russell McVeagh
P O Box 8
AUCKLAND