| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 25 June 2020 |
| Pathway | Sensitive land – substantial and identifiable benefit to New Zealand |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a fee-simple interest in 8.5640 hectares of land at Quest Farms Vineyard, Cromwell (the Land). |
| Consideration | $1,650,000 |
| Applicant | Goh Yew Lin, Magrathea Pte. Ltd, Magrathea Wine Company Ltd Singapore (90%) New Zealand (10%) |
| Vendor | Mark II Limited Mark Jeremy Mason, New Zealand (100%) |
| Background | The Applicant is (collectively) Mr Goh Yew Lin and two entities related to him. Mr Goh is a Singaporean individual who intends to create a new category of New Zealand fine wines. The Applicant has partnered with two New Zealand winemaker-growers who will produce pinot noir wine from grapes grown on the Land, which will be processed and cellared at a winemaking and storage facility constructed on the Land, before being introduced to the market at a premium price. The Applicant intends to export most of the wine it produces to various locations around the world. The benefits to New Zealand that are likely to result from this investment include: There will also be increased processing of grapes (being a primary product) as the Applicant intends to replant areas of the vineyard at a higher density. |
| More information | Andrew Petersen Bell Gully PO Box 4199 Auckland 1140 |