Overseas investment decision for case 201310074 - Chimpland Limited | Toitū Te Whenua

Decision	Consent granted Section 12(a) Overseas Investment Act 2005
Decision date	8 October 2013
Investment	An overseas investment in sensitive land, being the acquisition of a freehold interest in: 23.3299 hectares of land at 227F Whitemans Valley Road, Upper Hutt (201310074); 354.6947 hectares of land at 88 Mangaroa Valley Road, Upper Hutt (201310075); and 68.1080 hectares of land at 195D Whitemans Valley Road, Upper Hutt (201310076).
Consideration	201310074: $350,000 201310075: $1,550,000 201310076: $1,000,000
Applicant	Chimpland Limited Matthew Joseph Monahan, United States of America (100.0%)
Vendor	201310074: David Lawrence and Mandy Dews Mandy Dews, New Zealand (50.0%) David Lawrence Dews, New Zealand (50.0%) 201310075: Mangaroa Timber Co Limited New Zealand (100.0%) 201310076: WAKT Forestry Limited New Zealand (100.0%)
Background	Mr Monahan intends to migrate to New Zealand and become a New Zealand resident under Immigration New Zealand's Entrepreneur Category. The land is being acquired to provide a controlled environment for research focused around environmental sustainability in forestry operations. The overseas investment transaction has satisfied the criterion in section 16(1)(e)(i) of the Overseas Investment Act 2005.
More information	S R Walker/Michael Hofmann-Body Gillespie Young Watson PO Box 30-940 Lower Hutt 5040