| Decision | Consent granted retrospectively Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Date | 1 September 2016 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 79.3364 hectares of land at 185 Sandspit Road, Warkworth. |
| Consideration | $4,480,000 |
| Applicant | Hong Zhongliang, Ke Xueli, Gu Xinrong and IRL Investment Limited China, People's Republic of (100%) |
| Vendor | Mortimer (John) and Mortimer (Erin Leslie) New Zealand (100%) |
| Background | The sensitive land was acquired by the Applicants in 2012 without seeking consent under the Overseas Investment Act 2005. Consent was required as the land is more than 5 hectares of non-urban land. The application for consent was submitted retrospectively. Consent was declined as the delegated decision maker was not satisfied that all of the criteria in section 16 were met. |
| More information | Joe M Windmeyer Russell McVeagh PO Box 8 AUCKLAND |
| Retrospective penalty | n/a |