| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 9 February 2015 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 2,944.0304 hectares of land at Mt Isthmus Station, Makarori-Hawea Road, Hawea. |
| Consideration | Withheld under s(9)(2)(a) of the Official Information Act |
| Applicant | New Zermatt Properties Limited Richard Anthony Magides, United Kingdom (100%) |
| Vendor | Glen Dene Limited Richard Burdon, Jeremy Burdon and Lesley Burdon, New Zealand (100%) |
| Background |
The Applicant plans to construct and establish a luxury farm and wilderness lodge and ancillary tourism activities on the land. The Applicant will lease the majority of the land back to the Vendor so it can continue its farming operations. This investment follows earlier investments by the Applicant which also involved the development of luxury accommodation (refer cases 201120086, 201310022 and 201320107). 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 | Matthew Edwards Berry & Co PO Box 179 QUEENSTOWN 9348 |