Overseas investment decision for case 201610122 - Veronika Leeb-Goess-Saurau | Toitū Te Whenua

Decision	Consent granted Section 12(a) Overseas Investment Act 2005
Decision Date	2 December 2016
Investment	An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 381.9220 hectares of land at 378 Ridgemount Road, Tutira, Hawke's Bay.
Consideration	$2,200,000
Applicant	Veronika Leeb-Goess-Saurau Austria (100%)
Vendor	Jeanette Betty McMillan, Neil John McMillan, Roger Peter Sinclair and Ross John Williams Ross John Williams, New Zealand (25.0%) Neil John McMillan, New Zealand (25.0%) Jeanette Betty McMillan, New Zealand (25.0%) Roger Peter Sinclair, New Zealand (25.0%)
Background	The Applicant intends to acquire the land for the purpose of establishing a commercial forest operation. 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 17(2)(a)(i) – Jobs 17(2)(a)(v) – Additional investment for development purposes 17(2)(d) – Historic heritage 17(2)(e) – Walking access Overseas Investment Regulations 2005 28(a) – Consequential benefits 28(f) – Advance significant Government policy or strategy
More information	Sally Sisson Roger Dickie (NZ) Limited PO Box 43 Waverley