Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
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Decision date | 19 November 2013 |
Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 295.0158 hectares of land at Wairoa Gorge, Nelson (“the Land”). |
Consideration | $750,000 |
Applicant | RHL NZ Limited Belize (100%) |
Vendor | C-Scape Farms Limited Stephen Craig Cary, New Zealand (76.0%) Renee Cary, United States of America (24.0%) |
Background | The Applicant has previously built a mountain bike trail adjacent to the Land at Wairoa Gorge. The Applicant intends to acquire the Land to extend the existing mountain bike trail. 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 |