| Decision | Consent granted Section 12(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 07 February 2024 |
| Pathway(s) | Sensitive land – Benefit test |
| Investment | Acquisition of leasehold interests of up to 48 years in approximately 2.0061 hectares of land at 34 Beach Road, Kaikoura |
| Consideration | Between $6,000,000 - $16,000,000 |
| Applicant | Hampshire Holiday Parks Limited Australia 100% |
| Vendor | Kaikoura Top 10 Holiday Park Limited New Zealand 100% |
| Background | The Applicant is a subsidiary of Australian AZZ Pty Limited. It invests in New Zealand holiday parks. The land is currently used as a holiday park. The Applicant plans to develop the park through proposed capital upgrades. The main benefits to New Zealand are likely to be increased capital expenditure, job creation and advancement of the Government's tourism strategy. Consent was granted as the Applicant met the investor test criterion and the investment is likely to benefit New Zealand. |
| More information | Elise Markwick Martelli McKegg PO Box 5745 Auckland |
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