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Applicant
Craigmore Farming NZ Limited Partnership
Case number(s)
201510067
Decision date
Type
Decision
DecisionConsent granted
Section 12(a) Overseas Investment Act 2005
Decision Date30 September 2015
InvestmentAn overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 43 hectares of land at 84 Waimea Drive, Te Puke.
Consideration$5,918,960
ApplicantCraigmore Farming NZ Limited Partnership
Western European Public (76%)
Various overseas persons (18.6%)
New Zealand Public (5.4%)
VendorLawrence (Gilbert Ian), Lawrence (Raewyn Esther) and Walkinton (Richard Bruce)
New Zealand (100%)
Background

The Applicant, together with Trevelyans Pack and Cool Limited, intends to carry out development of the Land to realise the full potential of its associated Kiwifruit Orchard operation.

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
17(2)(a)(iii) – Increased export receipts
17(2)(a)(iv) – Greater efficiency or productivity
17(2)(a)(v) – Additional investment for development purposes
17(2)(b) – Indigenous vegetation/fauna

Overseas Investment Regulations 2005
28(e) – Previous investments
28(f) – Advance significant Government policy or strategy
28(i) – Economic interests

More informationMichael Beck
Duncan Cotterill
PO Box 5
CHRISTCHURCH
Last updated