Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
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Decision date | 27 August 2013 |
Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 4,046 hectares of land at 2035 Clayton Road, Fairlie, Canterbury (being Lilydale Station). |
Consideration | $3,500,000 |
Applicant | RHL (Lilydale) Limited Belize (100%) |
Vendor | Donald Edgar Bray and Barbara Jane Bray New Zealand (100%) |
Background | The Applicant intends to develop a world class mountain bike trail business 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 | Amy Laird Duncan Cotterill PO Box 5 CHRISTCHURCH |