| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 7 May 2012 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 0.0240 hectares of land at Rutherford Road, Lake Hayes, Otago. |
| Consideration | $10 |
| Applicant | United Estates Ranch Limited United States of America (100%) |
| Vendor | John Felix Desbecker & Graeme Morris Todd as trustees of the Skyview Trust New Zealand (100%) |
| Background | The Applicant is acquiring the land as part of a boundary exchange agreement with an adjoining owner. The land will be amalgamated into the residential subdivision development of the Applicant and will provide enhanced access to the adjoining recreation reserve. The overseas investment transaction has satisfied the criteria in section 16 of the Overseas Investment Act 2005. The 'benefit to New Zealand' criterion was satisfied by particular reference to the following factors: Overseas Investment Act 2005 Overseas Investment Regulations 2005 |
| More information | Lesley Brook Anderson Lloyd Lawyers Private Bag 1959 DUNEDIN 9016 |