| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Date | 12 January 2016 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 84.9634 hectares of land at 629 Malaghans Road, Queenstown, Otago. |
| Consideration | $4,226,087 |
| Applicant | TJ Investments Pte Limited Jonathan Paul Gabler, Australia (50.0%) Lynly Wai Yen Fong, Australia (50.0%) |
| Vendor | T A Property Trust Limited, Coronet Estate Limited, Malaghan Park Limited, Arrowtown Downs Limited and Wakatipu Retreat Limited AF Porter Family Trust, New Zealand (33.0%) Neville Porter Family Trust, New Zealand (33.0%) John Porter Family Trust, New Zealand (33.0%) BSA Trustee Company No. 2 Limited, New Zealand (1.0%) |
| Background | Lynly Fong and Jonathan Gabler are purchasing the land in order to establish a polo facility in Queenstown. 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 | Robert Huse Anderson Lloyd Lawyers PO Box 201 QUEENSTOWN 9300 |