| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 12 October 2011 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 15.8210 hectares of land at 78A Silverstream Falls, Whenuakite, Coromandel. |
| Consideration | $500,000 |
| Applicant | Jan Frederik Sipsma, Lianne Sipsma & Sipsma Corporate Trustees Limited as trustees of the Sipsma Family Trust Australia (100%) |
| Vendor | Professional Contractors Limited as sole trustee of Tairua Development Trust New Zealand (100%) |
| Background | Jan and Lianne Sipsma intend to migrate to New Zealand and intend to reside in New Zealand indefinitely on the property. They intend to construct a residential dwelling on the property and lease part of the land to their consulting business to establish its head office and executive retreat facilities. The overseas investment transaction has satisfied the criteria in section 16(1)(e)(i) of the Overseas Investment Act 2005. |
| More information | Liza Fry-Irvine Pidgeon Law PO Box 6535 Wellesley St AUCKLAND 1141 |