| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 2 July 2014 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 142.8540 hectares of land at 561 Monument Rd, Maramarua, North Waikato. |
| Consideration | $2,250,000 |
| Applicant | Bardfield Farms Limited Mark Purcell Tapper, New Zealand (25.0%) Garth Walton & Jan-Maree Smith and Nicholas Johannes Hoogeveen, New Zealand (25.0%) Doug Hall Poultry Pty Limited, Australia (16.7%) Alpair Pty Limited, Australia (16.65%) Campastco Pty Limited, Australia (16.65%) |
| Vendor | Monument Road Limited Mark Purcell Tapper, New Zealand (50.0%) Garth Walton & Jan-Maree Smith and Nicholas Johannes Hoogeveen, New Zealand (50.0%) |
| Background | The proposal involves the Applicant's acquisition of land currently leased from two of its shareholders, in order to realise operational and growth advantages from security of tenure. 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 | Kate Telford Hesketh Henry Private Bag 92093 AUCKLAND |