| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 25 June 2015 |
| Investment | An overseas investment in sensitive land, being the Applicant’s acquisition of a freehold interest in approximately 20.0200 hectares of land at Lot 10 Mataka Station, Rangihoua Road, Kerikeri (“Land”). |
| Consideration | $2,300,000 |
| Applicant | Kahukura Limited Monaco (100%) |
| Vendor | Bernard Jean Sabrier Switzerland (100%) |
| Background | The Applicant intends to enhance the indigenous vegetation located on the Land and make a series of donations to the Bay of Islands International Academy, being a school located near the Land. 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 | Peter Sygrove Chapman Tripp PO Box 2206 Auckland 1140 |