Overseas investment decision for case 202100778 - Alpha Ally Holdings Limited

An overseas investment in sensitive land, being the Applicant’s acquisition of:

1. a freehold and leasehold interest in 10.0108 hectares of land at 80 Onetangi Road, Waiheke Island; and
2. a leasehold interest in 3.6369 hectares of land at 54 Onetangi Road, Waiheke Island (together, the ‘Land’).

Stephen Harold White and Stephan Paul Goodhue as trustees of the S H White Family Trust
(New Zealand 100%) 

Vine Del Mar Limited
(New Zealand 100%)

The Applicant is wholly owned by a Singaporean citizen.    

The Applicant intends to acquire the Land and business known as Stonyridge Vineyard, established by Stephen White in 1983. The estate labels are Larose, Airfield, Pilgrim and Luna Negra. 

The Applicant intends to hold the Land as a long-term investment and add value to the business, focusing on increasing export sales, supported by Mr White who will be appointed as Brand Ambassador for Larose. Mr White will remain as a part owner of the business (with a 20% ownership interest) operating on the Land. The Applicant also intends to construct a new two-storey building for a barrel cellar and club house.   

The investment is likely to result in the following economic benefits:  

• additional investment for development purposes;  
• four additional FTE positions;  
• increased productivity; and 
• increased export receipts.  

Taking into account the size and characteristics of the Land, Toitū Te Whenua LINZ is satisfied that the benefit to New Zealand will be substantial and identifiable. The Applicant has met the investor test under the Act.