| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Date | 16 October 2015 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 3.9693 hectares of land at 255 Paremoremo Road, Auckland. |
| Consideration | $8,080,000 |
| Applicant | Maohua Ye China, People's Republic of (100%) |
| Vendor | Gary James Messenger, Michelle Elizabeth Messenger and SW Trust Services (Nine) Ltd as trustees of the Messenger Home Trust New Zealand (100%) |
| Background | The Applicant intends to acquire the property for use as a home by his family when they visit New Zealand. The Applicant intends to employ a caretaker to look after the property during his absences and enhance the protection of the indigenous vegetation on the property. He also intends to establish a scholarship fund to provide assistance to students in low decile schools in Auckland. The overseas investment transaction has satisfied the criteria in section 16 of the Overseas Investment Act 2005. The 'benefit to New Zealand' criterion was satisfied by particular reference to the following factors: Overseas Investment Regulations 2005 |
| More information | David Liu Gerald Fitzgerald |