| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 26 October 2012 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of stratum in freehold interests in approximately 0.8740 hectares of land at Upper Riccarton, Christchurch. |
| Consideration | $5,600,000 |
| Applicant | Consulate-General of the People's Republic of China in Christchurch Government of the People's Republic of China (100.0%) |
| Vendor | Matangi Properties Limited Terence Leonard Pratley, New Zealand (50.0%) Amanda Dominique Hudson, New Zealand (50.0%) |
| Background | The Applicant is the Consulate-General of the People's Republic of China in Christchurch, a diplomatic post similar to New Zealand's Embassy in Beijing and Consulate-Generals in Shanghai, Hong Kong and Guangzhou, China. The Applicant intends to acquire the relevant land to provide accommodation for its staff and to host official functions. 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 Regulations 2005 |
| More information | Sam Nelson Lane Neave PO Box 13-149 CHRISTCHURCH |