Applicant
Kaituna Vineyards Limited
Case number(s)
200820033
Decision date
Type
Decision
Decision number200820033
Application number200820009
Date19 September 2008
Offeror/applicantKaituna Vineyards Limited
Ultimate applicant beneficial ownership80 percent - Switzerland, Rihs (Andreas E)
10 percent - New Zealand, Brooke-Taylor (Rex)
10 percent - New Zealand, Stubbing (Peter)
Beneficial overseas ownership 
- Asset current0 percent
- Asset proposed80 percent
- Share currentN/A
- Share proposedN/A
Offeree(s)/seller(s)Brooke-Taylor (Matthew Jonathan and Donna)
100 percent - New Zealand, New Zealand Public
Business activitiesAgriculture - Horticulture & Fruit - Viticulture
Details of land involved2.64 hectares of freehold situated at Kaituna-Taumarina Road, Marlborough being Part CT 250678 (Marlborough Registry).
Regions involvedNelson/Marlborough
Total consideration$200,000
Consent soughtTo 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 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 currently owns a vineyard of 23.3104 hectares that adjoins the Land.

Outline of the Investment:
The Applicant entered into a Sale and Purchase Agreement (Agreement) with Matthew and Donna Brooke-Taylor (Vendors) to purchase the Land. The Vendors' existing title comprises approximately 4 hectares. The Land will be subdivided from the existing title and acquired by the Applicant. The remainder will be retained for the Vendors' home and surrounding area.

Rationale for the Investment:
The Applicant wishes to purchase the Land, which is fully planted in a mixture of sauvignon blanc and pinot gris grape vines, as it is a means of further enhancing its current vineyard investment.

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 Regulations 2005:
r28(e) - Previous investments of benefit to New Zealand; and
r28(g) - Enhance previous investments.

ContactPaul Gibson
Gascoigne Wicks
PO Box 2
Blenheim 7240