| Decision | Consent Granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 7 September 2010 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 439.5187 hectares of land at Bushy Knoll Road, Hangaroa, Gisborne. |
| Consideration | $2,418,750 |
| Applicant | Middle Mount Limited Heinrich Martin Henni, Switzerland (100.0%) |
| Vendor | Judith Anne Moore and the Candy Family Trust Ward Geoffrey Candy, Judith Anne Moore and Allan Colquhoun de Latour as trustees of the Candy Family Trust, New Zealand (50.0%) Judith Anne Moore, New Zealand (50.0%) |
| Background | The Applicant proposes to acquire the land known as Dumgoyne Station, which is adjacent to the Avondale and Awapapa Station property acquired by the Applicant in 2009. The proposed acquisition will expand the Applicant's sheep and beef farming operation in the Gisborne region and enhance the viability of the farming operations of Avondale and Awapapa Station. 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 | Stephen Grant Gallaway Cook Allan PO Box 143 DUNEDIN |