| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 21 September 2009 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 769.0496 hectares of land at 545 Waiwhero Road & Rosedale Road, Upper Moutere, Nelson. |
| Consideration | $15,075,000 |
| Applicant | Paratiho Limited United Kingdom (100.0%) |
| Vendor | Sally Mitchell Hunt New Zealand (100.0%) |
| Background | The shareholders of the Applicant have sold their former home in Selkirk, Scotland and are currently in transition of moving their possessions to New Zealand. They intend to reside in New Zealand indefinitely. The land will provide the shareholders of the Applicant with a New Zealand residence. The Applicant proposes to continue to operate the farming and tourism related businesses operated on the land. The overseas investment transaction has satisfied the criteria in section 16 of the Overseas Investment Act 2005. |
| More information | David Haigh Wynn Williams &Co PO Box 4341 CHRISTCHURCH 8140 |