| Decision | Consent Granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Date | 7 June 2017 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 18.0722 hectares of land at 163 Opito Bay Road, Kerikeri, Northland. |
| Consideration | $4,050,000 |
| Applicant | Andrea and Malgorzata Calantzopoulos Switzerland (100%) |
| Vendor | Jenifer Eva Easton and Roderick Roy MacCarthy as Executors of the Estate of Eva Elizabeth MacCarthy New Zealand (100%) |
| Background | Mr. and Mrs. Calantzopoulos plan to build a home where they can stay when visiting a farm that they recently obtained consent to acquire (Case 201620062). They have committed to protecting and enhancing significant indigenous vegetation and fauna on the land with a QEII covenant for two significant areas of indigenous forest, as well as sponsoring a new kiwi protection programme on the Kerikeri Peninsula in Northland. These proposals will also give effect to or advance two significant government policies or strategies, being the Predator Free NZ 2050 strategy and the Kiwi Recovery Plan, and are also likely to result in the creation of a small number of short term job opportunities in New Zealand. In addition, they will work with the Walking Access Commission and fund the creation of new public access to two bays near the land. 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 |