| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Date | 15 October 2015 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 15.9930 hectares of land at 164 Ngakoroa Road, Gisborne. |
| Consideration | $560,000 |
| Applicant | Kia Ora Station Limited Patrick Gaetan Marie Guesdon, New Caledonia (40.0%) Odile Marie Clemence Andree Guesdon, New Caledonia (20.0%) Caroline Natacha Odile Mayerau-Lonne, New Caledonia (15.0%) Nicolas Bruno Edmond Guesdon, New Caledonia (15.0%) Robert John Bryson, New Zealand (10.0%) |
| Vendor | Margot Barbara Brodie and Gerald Briar Falkner New Zealand (100%) |
| Background | The Applicant intends to acquire the land to use as a lamb finishing unit for its farm, Kia Ora Station. The Applicant also intends to undertake an environmental initiative on the land to create a wetland area for the purpose of restoring a natural habitat for native species. 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 | John Bunbury Grey Street Legal Limited 146 Gisborne |