| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 9 April 2011 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 20.1420 hectares of land at 801 Hurunui Mouth Rd, Domett, Canterbury. |
| Consideration | $632,500 |
| Applicant | Robert Jameson Rauch United States of America (100%) |
| Vendor | Edward William Phipps New Zealand (100%) |
| Background | The Applicant intends to apply for a residency permit pursuant to the Investor II category and is purchasing the property as a lifestyle block for his personal use. The land, which is not economic as a farming block, adjoins the Manuka Bay Scenic Reserve administered by the Department of Conservation (DOC). DOC is very keen to secure formal access through the relevant land on an enduring basis to enable the public to access the Manuka Bay Reserve from its southern end, and enable people to more easily use the Port Robinson Walkway. The Applicant proposes to create such access. The Applicant also intends to fence off the adjoining lagoon from stock (which Environmental Canterbury has been seeking for some time) and to implement a planting programme for erosion control. 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 | Charlie Brown Rhodes & Co. PO Box 13444 CHRISTCHURCH |