| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Date | 9 October 2015 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 1,264 hectares of land at 583 Otawhao Rd, Woodville (Kumeroa Station). |
| Consideration | $5,400,000 |
| Applicant | Ernslaw One Limited Tiong Family, Malaysia (100%) |
| Vendor | Kumeroa Station Trust New Zealand (100%) |
| Background | The Applicant intends to convert most of the Land (currently used for sheep/beef farming) into pine forest as part of its forestry holdings. Around 190ha of the Land is intended to be retained for pastoral farming. 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 | Deirdre Norris Glaister Ennor PO Box 63 Auckland |