Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
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Decision date | 3 July 2013 |
Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest (both fee simple and stratum in freehold) in approximately 1,116ha of land located on Karikari Peninsula in Northland, being the site of the Carrington Assets. |
Consideration | $28,750,000 |
Applicant | Shanghai CRED Real Estate Co. Limited Guo Jie Gui, China, People's Republic of (36.11%) Pei Zhan, China, People's Republic of (24.99%) Others, China, People's Republic of (38.9%) |
Vendor | Paul Knox Kelly, Edgewater Developers Limited, Carrington Farms Limited United States of America (100%) |
Background | The Applicant intends to continue to operate and develop the existing businesses (including the Carrington Golf Course Resort and Karikari Winery Estate) operated on the land. 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 Overseas Investment Regulations 2005 |
More information | Tessa Kennings/Bill Sandston Chapman Tripp PO Box 2206 AUCKLAND 1140 |