| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 23 March 2011 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 35.9858 hectares of land at 424 Omihi Rd, Waipara Valley, North Canterbury. |
| Consideration | $3,500,000 |
| Applicant | Greystone Wines Limited Peter Thomas, New Zealand (100.0%) |
| Vendor | Muddy Water Limited Michael Charles East, New Zealand (99.0%) Jane Louise East, New Zealand (1.0%) |
| Background | The Applicant is a 100% owned subsidiary of Sun Genesis Limited, a company incorporated in Hong Kong. Sun Genesis Limited is owned by a New Zealand citizen Peter Thomas. The land at 424 Omihi Rd contains the Muddy Water vineyard and winery. The Applicant intends to further develop the Muddy Water vineyard and winery. The Applicant also believes there are many synergies between the Muddy Water vineyard and the Applicant's existing vineyard which is in close proximity to the Investment. The Applicant also intends to increase public access to the land by creating an extended bike and walking trail. 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 | David Goodman Goodman Tavendale Reid PO Box 442 CHRISTCHURCH |