| Decision | Consent granted retrospectively Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 7 December 2012 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 136.0779 hectares of land at 42 Matheson Road, Helena Bay, Whangarei. |
| Consideration | $760,000 |
| Applicant | William Mehring United States of America (100%) |
| Vendor | SR Lovelace, KJ Twomey, RE Lovelace & GR Lovelace New Zealand (100%) |
| Background | The Applicant intends to acquire the property in order to eventually reside on the property. The Applicant has obtained a QEII National Trust covenant to protect approximately 59.5 hectares of forest and rushland located on the property. 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 |
| More information | George Swanepoel SwanLaw Barristers and Solicitors PO Box 1563 Whangarei 0140 |
| Retrospective penalty | $5000 |