| Decision | Consent granted retrospectively Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 27 August 2014 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 4 hectares of land located at 1093 Weston-Ngapara Road, Oamaru, Waitaki, Otago. |
| Consideration | $440,000 |
| Applicant | Craigmore Farming NZ Limited Partnership United Kingdom Public (32%) Hong Kong Public (14%) German Investors, Germany (10%) New Zealand Public (9.5%) Swiss Public (5%) Irish Public (5%) Various overseas persons (24.5%) |
| Vendor | Anthony Miles and Lois Trudy Miles New Zealand (100%) |
| Background | The Applicant is acquiring the land in order to integrate it within the Applicant’s adjoining Waiareka dairy farm operation (in particular to provide additional staff accommodation). 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 | Christina Lefever Duncan Cotterill PO Box 5 CHRISTCHURCH |
| Retrospective penalty | $2,000 |