Decision
| Consent granted |
|---|---|
Decision Maker | The Minister for Land Information and the Associate Minister of Finance |
Decision Date | 19 June 2018 |
Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 132.03 hectares of land at 77 Te Muna Rd, Martinborough, Wairarapa. |
Consideration | $3,600,000 |
Applicant | Craggy Range Vineyards Limited |
Vendor | John Quentin Hamilton Donald, Patricia Mary Donald and Raymond Prendeville Matthews as trustees for the Kowhai Flat Trust |
Background | The Applicant is an established producer of New Zealand wine, which has vineyards in Martinborough, Hawke’s Bay, and Marlborough. The Applicant intends to use the land being acquired to establish a new vineyard, with approximately 93 hectares of the land to be planted in new vines and a water storage dam also being built on the property. Because the land would otherwise be used as bare grazing land, the investment is likely to result in much of the land being converted to a higher, more productive use. The benefits that are likely to result from the proposed investment include the creation of a significant number of new permanent and seasonal jobs, an increase in the processing in New Zealand of grapes into wine, and an increase in export receipts to the value of several million dollars. These benefits relate to factors of high relative importance under the current Ministerial Directive letter. The investment will also increase the productivity of the land and introduce into New Zealand new capital for development purposes (including related to planting of the vineyard, purchasing new equipment, and constructing a dam and buildings on the land). The Applicant has previously undertaken investments of benefit to New Zealand, including having previously established new vineyards and wineries, invested significant additional capital for development purposes, created a substantial number of jobs, and delivered a growing annual export receipt revenue. The Applicant advises that the proposed investment will effectively enable the expansion of its existing 120 hectare vineyard at 497 Te Muna Road (approximately 1 km away). |
More information | Catherine Reid
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