| Decision | Consent declined Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 23 February 2011 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 25.1035 hectares of land at 137 Dodson Valley Rd, Nelson. |
| Consideration | $1,875,000 |
| Applicant | Craig Michael Roscoe South Africa (100%) |
| Vendor | Calum MacLean New Zealand (100%) |
| Background | The Applicant intended to permanently relocate to New Zealand and the relevant land was to be acquired as a primary residence. The Applicant no longer intends to move to New Zealand. The overseas investment transaction has not satisfied the criteria in section 16 of the Overseas Investment Act 2005. |
| More information | Jeremy Barton Duncan Cotterill (Nelson) PO Box 827 NELSON 7040 |