| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 13 March 2015 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 1,037.3361 hectares of land at 404 Armstrong Road, Whatatutu, Gisborne. |
| Consideration | $5,500,000 |
| Applicant | Te Hau Station Limited Phillip Maxwell Colebatch, Australia (100%) |
| Vendor | Bremner Pastoral Properties Limited William Andrew Douglas Bremner, New Zealand (50%) Rosemary Jane Bremner, New Zealand (50%) |
| Background | The Applicant has been granted consent to acquire a 1,037 hectare sheep and beef farm known as Wheturau Station. The Applicant plans to integrate Wheturau Station into its existing farming operation (which includes an adjoining farm) and implement a range of environmental initiatives. 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 | Andrew Petersen Bell Gully PO Box 4199 AUCKLAND 1140 |