| Decision | Consent granted Section 12(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 13 February 2023 |
| Pathway(s) | Sensitive land (Benefit to New Zealand) National Interest assessment |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of approximately 0.6390 hectares of land at 148 Kumara Junction Highway, Seaview, Hokitika (Land) |
| Consideration | $641,160 |
| Applicant | Silver Fern Farms Limited New Zealand (49.95%) China (37.6%) Various regions (12.45%) |
| Vendor | Dennis John Cadigan and Wendy Margaret Cadigan New Zealand (100%) |
| Background | The Applicant is New Zealand's largest marketer, processor and exporter of premium quality grass fed lamb, beef, venison and associated products. The Applicant intends to convert the Land into a carparking facility (New Carpark) to support its adjacent meat processing facility. The New Carpark will free up the existing carpark on the adjacent land so it may be repurposed for development. LINZ granted consent as it considered the Applicants to have met the investor test criterion and that the benefit likely to occur as a result of the Investment would result in benefit to New Zealand. The main benefits to New Zealand include additional investment of potentially $5 million, the creation of approximately 8 temporary construction jobs and further benefits such as sustainability and efficiencies. The Minister of Finance has decided that the Proposed Transaction is not contrary to New Zealand's national interest. |
| More information | Robert Huse Anderson Lloyd Lawyers PO Box 201 Queenstown 9300 |
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