Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
---|---|
Decision date | 31 December 2009 |
Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 788.0559 hectares of land at Tapuae Road, Honikiwi, Otorohanga. |
Consideration | $1,828,125 |
Applicant | Honikiwi Holdings Limited United States of America (50.0%) Japan (50.0%) |
Vendor | Daniel John Morton and Rachel Catherine Dillimore New Zealand (100.0%) |
Background | The Applicant plans to acquire the Land and develop it into a plantation of Californian Redwood. The proposed Investment will benefit New Zealand by creating jobs, increasing export receipts, introducing investment for development purposes; protecting indigenous flora and habitats for indigenous fauna and trout; and improving walking access over the Land. 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 |
More information | Gerald Fitzgerald/Emma Tonkin Kensington Swan (Auckland) Private Bag 92-101 AUCKLAND |