| Decision | Consent Granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 24 September 2013 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 273.5347 hectares of land at Awatere Valley Road, Marlborough. |
| Consideration | $17,000,000 |
| Applicant | Craggy Range Vineyards Limited Terrence Elmore Peabody, Australia (99.0%) Stephen Mark Smith, New Zealand (1.0%) |
| Vendor | Black Birch Holdings Limited Lisa Marie Cooper, New Zealand (100.0%) |
| Background | The investment will allow the Applicant to expand and develop its export wine markets. It will also provide the Applicant with security of grape supply for its existing winery. 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 | John Brown Brown PartnersLawyers PO Box 1496 Shortland Street Auckland 1140 |