| Decision | Consent Granted Section 12(1)(a) and 13(1)(c) Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 17 July 2024 |
| Pathway | Sensitive land - Benefit to New Zealand test |
| Investment | Acquisition of approximately 151 hectares of land (and significant business assets) located near Arrowtown, being the site of the Hills Golf Course and adjoining land. |
| Consideration | Withheld under section 9(2)(b)(ii) of the Official Information Act 1982 |
| Applicants | Trojan Helmet Limited (the Hill Family) Tara-iti No 1 Limited Rohrstaff Group Limited |
| Vendors | Entities ultimately owned by the Hill Family New Zealand 100% |
| Background | The Applicants have formed a Joint Venture (JV) to redevelop the Hills Golf Course and associated surrounding land near Arrowtown. The JV is 75% owned by New Zealand citizens (including 50% by the Vendors). The JV intends to upgrade the golf course and develop adjoining land into new accommodation and communal facilities (up to 107 new dwellings), and it is expected that up to 10 new full-time jobs will be created as a result, along with other associated benefits. Following development, it is intended that the redeveloped golf course will be owned by new shareholder members. Consent was granted as the Applicant has met the investor test criterion and the benefit to New Zealand test criteria. |
| More information | Tessa Baker Chapman Tripp Level 34, PwC Tower 15 Customs Street West Auckland 1010 |