Applicant
Maruia Hot Springs Property Limited Partnership
Case number(s)
201510037
Decision date
Type
Decision
DecisionConsent granted retrospectively
Section 12(a) Overseas Investment Act 2005
Decision Date20 November 2015
Investment

An overseas investment in sensitive land, being Maruia Hot Springs Property Limited Partnership and Maruia Hot Springs Limited’s acquisition of:

  • a freehold interest in 1.8176 hectares of land at State Highway 7, Lewis Pass, Buller; and
  • a leasehold interest in approximately 0.45 hectares of land at State Highway 7, Lewis Pass, Buller.
Consideration$2,268,000
ApplicantMaruia Hot Springs Property Limited Partnership
Charles Balcombe Disney Davidson, Australia (30%)
Yoav Lev (Australia) and Holly Bronfman Lev (United States) (30%)
Brandon Armon Batagol, Australia (10%)
Alex Andrew Zotos, Australia (10%)
Marc Maurice Cohen, Australia (7.5%)
Kimberly Hamilton and James David White (12.5%)
VendorMaruia Hot Springs Thermal Resort Limited
Takako Ogino, New Zealand (54.5%)
Glen Stapley and Family, New Zealand (43.25%)
Junko Yamamoto, Japan (2.25%)
Background

The Applicant is acquiring a hot springs resort in the Lewis Pass region of the South Island known as Maruia Springs. The Applicant plans to upgrade and redevelop the Resort.

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 Act 2005
17(2)(a)(i) – Jobs
17(2)(a)(iii) – Increased export receipts
17(2)(a)(iv) – Enhanced domestic services
17(2)(a)(v) – Additional investment for development purposes
17(2)(e) – Walking access

Overseas Investment Regulations 2005
28(j) – Oversight and participation by New Zealanders

More informationPaul Holth
Chapman Tripp
PO Box 993
WELLINGTON 6140
Retrospective penalty$6,000
Last updated