| Decision | Consent granted Section 12(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision maker | The Minister for Land Information and the Associate Minister of Finance |
| Decision date | 19 October 2022 |
| Pathway(s) | Benefit to New Zealand (Benefit to New Zealand - Farm land) |
| Investment | An overseas investment in sensitive land, being the Applicant’s acquisition of a freehold interest in approximately 234.3661 hectares of land at 68 Cat Creek Road, Blenheim, Marlborough |
| Consideration | $8,750,000 |
| Applicant | Craigmore Permanent Crop No 12 Limited Germany (54.93%) Netherlands (18.63%) Hong Kong SAR (7.43%) United Kingdom (6.29%) Ireland (4.29%) Various (8.44%) |
| Vendor | Barbara Ann Straight and Kevin Dennis Straight (as trustees of the Straight Family Trust) New Zealand (100%) |
| Background | The Applicant is a New Zealand limited partnership ultimately owned and controlled by Craigmore Sustainables Management Group, a group of companies that has investments in New Zealand farmland and forestry assets. The Applicant intends to develop part of the land into a vineyard to supply grapes to Marlborough wineries for processing into Sauvignon Blanc wine. The remainder of the Land will be used for related infrastructure, possible additional vineyard planting, as well as existing (and possible future) forestry. Some of the land that is unsuitable for planting will be subdivided and sold. The investment is likely to result in new jobs, capital investment, increased export receipts, and advancement of government economic policies. The Ministers were satisfied that the benefit to New Zealand will be substantial and that the investor test has been met. |
| More information | Christina Lefever Lefever Law www.lefeverlaw.co.nz |
See the attached assessment report linked below, which was published in response to an Official Information Act request:
- Last updated