Applicant
Honikiwi Holdings Limited
Case number(s)
200920051
Decision date
Type
Decision
DecisionConsent granted
Section 12(a) Overseas Investment Act 2005
Decision date31 December 2009
InvestmentAn 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
ApplicantHonikiwi Holdings Limited
United States of America (50.0%)
Japan (50.0%)
VendorDaniel 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
17(2)(a)(i) – Creation/Retention of jobs
17(2)(a)(iii) – Increased export receipts
17(2)(a)(v) – Additional investment for development purposes
17(2)(b) – Indigenous Vegetation/Fauna
17(2)(c) – Trout, salmon, wildlife and game
17(2)(e) – Walking Access

More informationGerald Fitzgerald/Emma Tonkin
Kensington Swan (Auckland)
Private Bag 92-101
AUCKLAND