| Decision | Consent granted retrospectively Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Date | 3 September 2015 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 16.0480 hectares of land at 116 Mill Road, Clive, Hawkes Bay. |
| Consideration | $1,200,000 |
| Applicant | Mill Road Organic Limited Partnership Rufo Antonio Cosroe Quintavalle, New Zealand (100.0%) |
| Vendor | V.P.H. Limited New Zealand (100%) |
| Background | The Applicant will establish an organic kiwifruit orchard on 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 | Susie Kilty Buddle Findlay PO Box 2694 WELLINGTON 6140 |
| Retrospective penalty | $10,000 |