Applicant
Middle Mount Limited
Case number(s)
201110084
Decision date
Type
Decision
DecisionConsent granted
Section 12(a) Overseas Investment Act 2005
Decision date30 August 2011
InvestmentAn overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 891.7648 hectares of land at Strathblane Station, Hangaroa, Gisborne.
Consideration$3,375,000
ApplicantMiddle Mount Limited
Heinrich Martin Henni, Switzerland (100.0%)
VendorWard Geoffrey Candy
New Zealand (100%)
Background

The Applicant intends to establish a 330 ha forestry plantation on the Applicant's adjacent Avondale Station property. The addition of the Strathblane Station to the farming operations at Avondale Station will compensate for the loss of grazing land on Avondale once the forest is established.

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
17(2)(a)(i) – Creation/Retention of jobs
17(2)(a)(v) – Additional investment for development purposes
17(2)(b) – Indigenous Vegetation/Fauna

Overseas Investment Regulations 2005
28(d) – Owner to undertake other significant investment
28(e) – Previous investments
28(f) – Advance significant government policy or strategy
28(g) – Enhance the viability of other investments

More informationStephen Grant
Gallaway Cook Allan
PO Box 143
DUNEDIN