Decision | Consent granted |
|---|---|
Decision Maker | Toitū Te Whenua Land Information New Zealand |
Decision Date | 18 April 2024 |
Pathway(s) | Sensitive land – Benefit test |
Investment | Acquisition of a freehold interest in approximately 1.4866 hectares of land at 636-692 and 732 Rings Road, Coromandel. |
Consideration | Withheld under section 9(2)(b)(ii) of the Official Information Act 1982 |
Applicant | Tasman Tourism New Zealand Limited |
Vendors | Coromandel Holiday Park Limited Caron Sheree Steffert and Joeli Scott Ratuki as trustees of the Caron Steffert Family Trust, and Sean Joseph Steffert and Joeli Scott Ratuki as trustees of the Sean Steffert Family Trust |
Background | The Applicant is a subsidiary of Tasman Capital Investments (Australia) Pty Ltd. It invests in New Zealand holiday parks. The land is currently used as a holiday park. The Applicant plans to develop the park, through upgrades to accommodation, shared facilities, amenities and other holiday park infrastructure. The main benefits to New Zealand are likely to be increased capital expenditure and jobs, greater productivity of the land, and advancement of the Government’s tourism strategy. Consent was granted as the Applicant has met the investor test criterion and the investment is likely to benefit New Zealand. The Minister of Finance has decided that the investment is not contrary to New Zealand’s national interest. |
More information | Simon Peart |