| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 18 December 2009 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 1,327.1395 hectares of land at Rangitata Gorge Road, Geraldine. |
| Consideration | $6,300,000 |
| Applicant | Fairlight Station Limited Canada (100.0%) |
| Vendor | Harpenden Holdings Limited New Zealand (100.0%) |
| Background | The land is a farm known as Tui Station. The Applicant aims to improve the farming operation by introducing investment capital, and establishing 300 hectares of new forestry on the upper blocks of the property. The proposed Investment will create jobs, increase export receipts and introduce investment capital, while at the same time ensuring adequate protections of indigenous vegetation, wildlife habitat and the trout and salmon fishery resource on the Land. In addition, walking access arrangements may be forged along the length of the Rangitata River. The overseas investment transaction has satisfied the criteria in section 16 of the Overseas Investment Act 2005. The 'substantial and identifiable benefit to New Zealand' criteria were satisfied by particular reference to the following factors: Overseas Investment Act 2005 Overseas Investment Regulations 2005 |
| More information | Charlie Brown Rhodes & Co. PO Box 13444 CHRISTCHURCH |