| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 2 June 2015 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 139.4090 hectares of land at 325 Glenorchy-Routeburn Road, Glenorchy (“Priory Farm”). |
| Consideration | $1,100,000 |
| Applicant | Cabo Limited as trustee for the Cabo Trust United States of America (100%) |
| Vendor | Priory Pastoral Farm Limited New Zealand (100%) |
| Background | The Applicant is acquiring Priory Farm for the purpose of integrating it into its Wyuna Station farming operation. The acquisition will provide access to an area with good rainfall and grass growing enabling Wyuna Station to expand its stocking and "finish" its livestock to marketable export weights. 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 | Hamish Gordon Nowland Gordon & Associates PO Box 170 Wellington 6140 |