| Decision | Consent Granted Section 12(b) Overseas Investment Act 2005 |
|---|---|
| Decision date | 15 December 2010 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of rights or interests in up to 100.0% of the units of Avondale Pastoral Limited Partnership which owns or controls a freehold interest in 450.3653 hectares of land at 1799 Avondale Rd, Winton, Southland. |
| Consideration | $17,325,000 |
| Applicant | DAH Beteiligungs GmbH Daniel Wolfgang Hopp, Germany (100.0%) |
| Vendor | Strathyre Farms Limited John Joseph Hickman, New Zealand (50.0%) Tracey Ann Hickman, New Zealand (50.0%) |
| Background | The Applicant also proposes to acquire (through its unit holding in Avondale Pastoral Limited Partnership) an indirect interest in an adjacent 141.4470 hectare property at Avondale Road, Winton, Southland. This property is the subject of a separate application for consent (Case 201020041). It is intended that the two farms will be operated as one expanded dairy farm. The Applicant’s director and advisors have identified New Zealand as a country with a good economic and stable political system, with agriculture playing a significant part of the economy. 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 | Charlie Brown Rhodes & Co. PO Box 13444 CHRISTCHURCH |