| Decision | Consent Granted Section 12(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 3 July 2024 |
| Pathway | Sensitive land - Farm land benefit test |
| Investment | Acquisition of a freehold interest in approximately 61 hectares of land located at Lavenham Road, Macfarlane Road and Judd Road, Gisborne |
| 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% |
| Vendors | AR & JB Judd Family Trust, LA & MM Judd Family Trust, DR & JR Judd Family Trust 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. Approximately 40 hectares of the land is currently used as an apple orchard. The Applicant will upgrade the existing orchard and plant an additional 16 hectares in a new apple variety on land that is currently used for cropping. 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 |