Applicant
Liszt Investment Trust
Case number(s)
201320048
201320061
Decision date
Type
Decision
Decision Consent granted
Section 12(a) Overseas Investment Act 2005
Decision date 26 November 2013
Investment

An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in:

  • 3.5245 hectares, together with a 1/3 share in 0.4057 hectares of land at 27 Dolphin Lane, Waiheke Island (201320048); and
  • 4.8734 hectares, together with a 1/3 share in 0.2846 hectares of land at 160 Nick Johnstone Drive and 14 Te Miro Lane, Waiheke Island (201320061).
Consideration

201320048: $4,500,000

201320061: $9,120,000
Applicant Liszt Investment Trust
Solina Holly Chau Hoi Shuen, United Kingdom (100.0%)
Vendor

201320048:
Dougal Justin Alexander McPherson, Cecilia Gerard McPherson and Donna Marie Hamilton as trustees of the Hungry Duck Trust
New Zealand (100%)

201320061:
Home International Limited
United Kingdom (100%)
Background

The purchase of land at Dolphin Lane will bring further land into viticultural production. The purchase of the land at Nick Johnstone Drive and Te Miro Lane will result in all of the vineyard land being registered under one structure.

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) – Jobs
17(2)(a)(v) – Additional investment for development purposes
17(2)(b) – Indigenous vegetation/fauna

Overseas Investment Regulations 2005
28(a) – Consequential benefits
28(b) – Key person in a key industry
28(f) – Advance significant Government policy or strategy
More information Michael Goodger
Greenwood Roche Chisnall
P O Box 106006
AUCKLAND