| Decision | Consent Granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 22 June 2010 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 0.5059 hectares of land at 41 Towey Street, Oamaru. |
| Consideration | $1,201,500 |
| Applicant | James Lloyd Glucksman and James Preston Boussy United States of America (100%) |
| Vendor | Roy Kenneth Vannini and Bernice Vannini New Zealand (100%) |
| Background | The property to be acquired is a boutique hotel and home stay known as Pen-y-bryn Lodge, which the Applicants propose continuing to operate as a business, and will also use as their home. The Applicants intend to reside in New Zealand indefinitely, and presently hold Long Term Business Visas. The overseas investment transaction has satisfied the criteria in section 16 of the Overseas Investment Act 2005. |
| More information | Patrick Costelloe Malley & Co PO Box 1202 CHRISTCHURCH |