Applicant
Middle Mount Limited
Case number(s)
201320014
Decision date
Type
Decision
DecisionConsent granted
Section 12(a) Overseas Investment Act 2005
Decision date19 November 2013
InvestmentAn overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 439.9945 hectares of land at Rongoio Station, 1055 Ruakaka Road, Tiniroto, Gisborne.
Consideration$1,600,000
ApplicantMiddle Mount Limited
Heinrich Martin Henny, Switzerland (100.0%)
VendorWilliam Richard Copeland Purvis & Phillippa Robyn Purvis
New Zealand (100%)
Background

The Applicant intends to further extend its sheep and beef farming activity in the Gisborne location.

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)(iv) – Greater efficiency
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 sell riverbed to the Crown

Overseas Investment Regulations 2005
28(a) – Consequential benefits
28(e) – Previous investments
28(f) – Advance significant Government policy or strategy
28(g) – Enhance the viability of other investments

More informationStephen Grant
Gallaway Cook Allan
PO Box 143
DUNEDIN