| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | The Minister for Land Information and the Associate Minister of Finance |
| Decision Date | 22 May 2019 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 87.2224 hectares of land at 32 Hopkins Road, Matamata. |
| Consideration | $7,040,000 |
| Applicant | GH Westbury Pty Limited Australia (100%) |
| Vendor | Innes Thomas Semmens and Mandy Gail Semmens New Zealand (100%) |
| Background | The Applicant is a thoroughbred horse racing, breeding and sales business operating across Australia and New Zealand. To operate its New Zealand business effectively and provide its horses with sufficient room to roam, it required more land. The land being acquired is currently used for dairying. The benefits to New Zealand from the purchase of the land and expansion of the Applicant’s operation include the creation of new full time roles, additional investment into New Zealand, increased exports of yearlings and two year old horses, enhancement of services in the Waikato region though expansion of the Applicant’s available services in the region as well as enhanced viability of the Applicant’s business and advancing the Government’s policy to revitalise and reform the thoroughbred racing industry. |
| More information | Brian Robert Everett Duthie Whyte 2 Kitchener Street Auckland 1010 |