| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Date | 30 November 2016 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 20.7640 hectares of land at Lot 18, Mataka Station, Purerua Peninsula, Bay of Islands. |
| Consideration | $1,150,000 |
| Applicant | Philibert Jean Gaspard Laurent Frick Switzerland (100%) |
| Vendor | Mataka 18 Limited (Mataka Residents Association) Kirin Limited, New Zealand (49.0%) Sedesh Limited, New Zealand (49.0%) James Speedy, New Zealand (1.0%) Vimu Speedy, New Zealand (1.0%) |
| Background | The Applicant is acquiring the Land for use as a holiday retreat. It is one of thirty lifestyle lots within the Mataka Development which was established on the Purerua Peninsula in 2002. The ownership of individual lots provides capital for the communal farming and conservation programmes which are an integral part of the development. 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 | Jeff R Morrison Jeff Morrison & Associates Limited P O Box 415 Shortland Street Auckland 1140 |