Applicant
RHL (Lilydale) Limited
Case number(s)
201220082
Decision date
Type
Decision
DecisionConsent granted
Section 12(a) Overseas Investment Act 2005
Decision date27 August 2013
InvestmentAn 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
ApplicantRHL (Lilydale) Limited
Belize (100%)
VendorDonald 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
17(2)(a)(i) – Creation of jobs
17(2)(a)(v) – Additional investment for development purposes
17(2)(b) – Indigenous vegetation/fauna
17(2)(e) – Walking access
17(2)(f) – Offer to gift any special land to the Crown

Overseas Investment Regulations 2005
28(a) – Consequential benefits
28(e) – Previous investments

More informationAmy Laird
Duncan Cotterill
PO Box 5
CHRISTCHURCH