| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 23 June 2011 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 42.1855 hectares of land at 79-89-Anderson Rd, Matakana. |
| Consideration | $4,000,000 |
| Applicant | Natural Development NZ Limited Christian Baha, Austria (100.0%) |
| Vendor | Michael Ronald Jepson, Marianne Nancy Jepson and Peter Kemps as trustees of the Sokala Trust Jepson Family, New Zealand (100.0%) |
| Background | The land comprises a combination of bush and pasture which is utilised for cattle farming. The Applicant intends to farm the property in a more intensive manner, developing a more commercial cattle farming operation. The Applicant also intends to develop a 4 hectare boutique vineyard on the land. 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 | Erich Bachmann Hesketh Henry Private Bag 92093 AUCKLAND |