Overseas investment decision for case 201510011 - Kawakawa Station Limited

• a freehold interest in approximately 1,379.6930 hectares of land at Kawakawa Station, Cape Palliser Road, Wairarapa
• a leasehold interest in approximately 785.6491 hectares of land at Cape Palliser Road, Wairarapa.

Furniss (Alexander George) (as to a 1/4 share); Furniss (Duncan Alexander) (as to a 1/2 share); and Furniss (Alexander George), Warwick (Melanie Joan), Furniss (Duncan Alexander) and Furniss (Janine Nan) (as to a 1/4 share)
New Zealand (100%)

Phelps (Dianne Rose), Webb (Ngaere), Workman (Robert Kinsela), Hemi (Te Ariki Douglas) and Sargent (Wendy May) as trustees of the Kawakawa 1 D2 Trust
New Zealand (100%)

The Applicant is acquiring Kawakawa Station, a sheep and beef farm near Featherston.

The Applicant will invest in additional fertiliser, weed control and fencing on the land, and will increase expenditure on animal health which will result in increased productivity from the farm.

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 productivity
17(2)(a)(v) – Additional investment for development purposes
17(2)(b) – Indigenous vegetation/fauna
17(2)(d) – Historic heritage
17(2)(e) – Walking access
17(2)(f) – Offer to sell seabed/foreshore/riverbed to the Crown