| Decision | Consent granted retrospectively Regulation 8 Overseas Investment Regulations 1995 |
|---|---|
| Decision date | 23 November 2011 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 8.9580 hectares of land at 171 Carsons Road, Waiheke Island. |
| Consideration | $2,643,750 |
| Applicant | Waiheke Island Airpark Resort Limited as Trustee of the Neil Greer Developments Trust Neil Hardy Greer, United Kingdom (100.0%) |
| Vendor | Waiheke Air Services (2002) Limited Denis Brian Musson, New Zealand (100.0%) |
| Background | The land comprises the Waiheke Island airfield, which is the only airfield on Waiheke Island that is available for commercial and private operations. As well as providing for commercial airline activities, it is also used by emergency services to service the greater Hauraki Gulf environment, while at the same time providing recreational tourism facilities. The Applicant proposes to maintain and improve the airfield operations as a viable, commercial airfield facility to service the greater Hauraki Gulf area and Auckland. The Applicant also proposes to further develop the airfield by sealing the runway, constructing hangars, airfield facilities and 26 visitor accommodation units (as approved by an existing Resource Consent). The overseas investment transaction has satisfied the criteria in Section 14B of the Overseas Investment Act 1973. The 'national interest' criterion was satisfied by particular reference to the following factors: Overseas Investment Act 1973 |
| More information | Brandon Cullen McVeagh Fleming PO Box 4099 AUCKLAND |
| Retrospective penalty | $1,000.00 |