| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 20 May 2014 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 9.7331 hectares of land at Lots 4 & 5 Elysium Way, Slope Hill Road, Queenstown. |
| Consideration | $1,400,000 |
| Applicant | Silver Fern International Travel and Trade Limited Jun Chang, China, People's Republic of (80%) Rong Fu, China, People's Republic of (10%) Meidong Su, China, People's Republic of (5%) Xin Wang, China, People's Republic of (5%) |
| Vendor | Donald William Andrew, Kathleen Mary Andrew and the Andrew Family Trust (Trustees Kathleen Mary Andrew and Roger Norman Macassey) New Zealand (100%) |
| Background | The Applicant is acquiring the land in order to establish an accommodation business and associated activities. 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 |
| More information | Elliot Goldman Goldman Legal PO Box 1399 Queenstown |