| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Date | 4 September 2015 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 5.7728 hectares of land at 7595 State Highway 27, Matamata. |
| Consideration | $1,850,000 |
| Applicant | Flying Class (NZ) Limited Yu Lau, Hong Kong (SAR) (100.0%) |
| Vendor | O'Sullivan (David John), O'Sullivan (Lance Anthony) and Edmonds Marshall Trustee Services Limited as trustees of the O'Sullivan Family Trust O'Sullivan Family Trust, New Zealand (100.0%) |
| Background | The applicant is acquiring a horse training facility. The Applicant will expand stabling facilities on the Land, likely resulting in the creation of new jobs and increased horse sales overseas. 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 |
| More information | Michael Jones Cooney Law 22 Dick Street Cambridge 3434 |