Applicant
Xindongyue Group NZ Limited
Case number(s)
201420003
Decision date
Type
Decision
DecisionConsent granted
Section 12(a) Overseas Investment Act 2005
Decision date14 November 2014
InvestmentAn overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 8.1091 hectares of land at 35c Wallace Drive, Clarks Beach, Waiau Pa, Auckland.
Consideration$2,990,000
ApplicantXindongyue Group NZ Limited
De Sheng Zhao, China, People's Republic of (100.0%)
VendorAnne Rachel Martin
New Zealand (100%)
Background

The Applicant is acquiring a boutique winery and accommodation business. The Applicant intends to export wine to China, using both the vineyard’s own grapes and locally sourced grapes and bottled wine.

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)(iii) – Increased export receipts
17(2)(a)(iv) – Added market productivity/efficiency
17(2)(a)(v) – Additional investment for development purposes
17(2)(a)(vi) – Increased processing of primary products

More informationPrestige Lawyers
PO Box 305379
Triton Plaza
Auckland 0757