Applicant
National Outdoor Leadership School
Case number(s)
201210027
Decision date
Type
Decision
DecisionConsent granted
Section 12(a) Overseas Investment Act 2005
Decision date23 May 2012
InvestmentAn overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 15.0872 hectares of land located at 4 Serpentine River Road, Aniseed Valley, Richmond.
Consideration$730,000
ApplicantNational Outdoor Leadership School
United States of America (100%)
VendorBrian William Coulter & Claire Marie Coulter
New Zealand (100%)
Background

The Applicant has been operating in New Zealand since 2004 and is purchasing the land for use as an accommodation and education base for its outdoor leadership programmes.

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)(iii) – Increased export receipts
17(2)(a)(iv) – Added market competition/productivity
17(2)(a)(v) – Additional investment for development purposes
17(2)(f) – Offer to sell riverbed to the Crown

Overseas Investment Regulations 2005
28(e) – Previous investments
28(g) – Enhance the viability of other investments

More informationCharlie Brown
Rhodes & Co.
PO Box 13444
CHRISTCHURCH