Applicant
Middle Mount Limited
Case number(s)
201210041
Decision date
Type
Decision
DecisionConsent granted
Section 12(a) Overseas Investment Act 2005
Decision date3 August 2012
InvestmentAn overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 52.2 hectares (subject to survey) of land located at Hangaroa, Gisborne (being part of Mangawehi Station).
Consideration$510,000
ApplicantMiddle Mount Limited
Heinrich Martin Henny, Switzerland (100%)
VendorRoger Dickie Developments Limited
New Zealand (100%)
Background

The land strategically fits into the middle of two farms Middle Mount Ltd has already purchased (Avondale and Dumgoyne) which are now being run as one combined operation.

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 of jobs
17(2)(a)(iv) – Greater productivity and efficiencies
17(2)(a)(v) – Additional investment for development purposes
17(2)(b) – Indigenous vegetation/fauna

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

More informationStephen Grant
Gallaway Cook Allan
PO Box 143
DUNEDIN