| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 28 April 2021 |
| Pathway(s) | Benefit to New Zealand (Benefit to New Zealand - S&I) |
| Investment | Freehold interests in approximately 11.6005 hectares, and a leasehold interest in approximately 4.1101 hectares of non-urban land at 354 Paraite Road, Bell Block, New Plymouth. |
| Consideration | $3,500,000 plus GST (if any) |
| Applicant | Cloverview Limited Partnership United States of America (80%) New Zealand (20%) |
| Vendor | Kylie Alana McDonald and KDJ Trustee Limited as trustees of the KDJ Trust New Zealand (100%) |
| Background | The Applicant is a New Zealand limited partnership majority ultimately owned by descendants of American Peter H Kuyper. The Land is currently used to rear kid goats for export. The Applicant intends to at least double the number of kid goats being reared on the Land. It intends to invest in the infrastructure on the Land and employ additional staff to support this. The investment is expected to lead to the introduction of additional investment and increased jobs to increase the number of kid goats reared on the Land, greater kid goat rearing productivity on the Land from increased scale, and increased export receipts. There will also be some oversight and participation by New Zealanders in the overseas investment as the Vendors will have a minority interest in the Applicant. |
| More information | Bede Maher Anderson Lloyd (Auckland) P O Box 399 Shortland Street AUCKLAND 1140 |