| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Date | 10 November 2016 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 72.5998 hectares of land (Land) at 3254 Motueka Valley Highway, Stanley Brook, Nelson. |
| Consideration | $685,000 |
| Applicant | Vanakaville LLC Donald Charles Fergusson, United States of America (100%) |
| Vendor | James Bint, Jean Bint and Fletcher Vautier Moore Trustees Limited as trustees of the J & J Family Trust New Zealand Investors, New Zealand (100%) |
| Background | The Applicant intends to restore 10 hectares of existing Manuka trees and to plant an additional 20 hectares of Manuka trees on the Land. The Applicant intends to partner with Comvita who will supply beehives and engage an apiarist to harvest honey. 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 | Catherine Reid Barrister catherine@catherinereid.co.nz |