| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Date | 13 January 2016 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 7.2590 hectares of land at 262 Broomfields Road, Whitford, Auckland. |
| Consideration | $9,700,000 |
| Applicant | Yanqiu Qian and Jie Zhang China, People's Republic of (100%) |
| Vendor | Clayton Reid and John Robert Kerridge as trustees of the Clayton Reid Residential Trust New Zealand (100%) |
| Background | The Investment will provide a family residence for the Applicants. It is also intended that part of the property will be used for pre-production and post-production work on TV series and films. The Applicants intend to become ordinarily resident in New Zealand, ceasing to be an “overseas person” (as defined in section 7 of the Overseas Investment Act 2005). If this does not occur, or if either Applicant once again becomes an “overseas person” after ceasing to be one, the Investment must be disposed of. The overseas investment transaction has satisfied the criterion in section 16(1)(e)(i) of the Overseas Investment Act 2005. |
| More information | Winston Wang Winston Wang & Associates 96 Remuera Road Newmarket Auckland |