| Decision | Consent granted Section 12(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 29 May 2024 |
| Pathway(s) | Sensitive land - Farm land benefit test |
| Investment | Acquisition of a freehold interest in approximately 72.3591 hectares of land at 94 and 132 Hill Road, Hastings |
| Consideration | Withheld under section 9(2)(b)(ii) of the Official Information Act 1982 |
| Applicant | Beehive Demetra Limited Germany 45% United Kingdom 15% North America 20% Europe 20% |
| Vendor | Kiwi Crunch Farms Limited New Zealand 100% |
| Background | The Applicant is a subsidiary of German company Munich Re. It was formed to invest in horticultural assets in New Zealand. The land is currently used as an apple orchard. The Applicant will upgrade the orchard and re-plant more profitable apple varieties. The main benefits to New Zealand are likely to include: capital expenditure, increased jobs and increased export receipts. Consent was granted as the Applicant has met the investor test criterion and the investment is likely to benefit New Zealand. |
| More information | Christina Lefever Lefever Law PO Box 33064 Barrington Christchurch 8244 |