| Decision | Consent granted Section 12(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 24 October 2024 |
| Pathway | Sensitive land - Farm land benefit test |
| Investment | Acquisition of a freehold interest in approximately 77 hectares of land at 575 Thompsons Track, Rakaia, Canterbury |
| Consideration | Withheld under section 9(2)(b)(ii) of the Official Information Act 1982 |
| Applicant | Bakker Bulbs Limited Netherlands 80% New Zealand 20% |
| Vendor | A G & A C Hurst Farming Co Limited New Zealand 100% |
| Background | Bakker Bulbs Limited is a lily bulb producer that is ultimately majority owned by a Dutch citizen. The Applicant currently leases the land for bulb planting. The land is also used for grazing animals. The Applicant intends to increase the area available for rotational bulb planting (from 67 hectares to 75 hectares) and to invest in facilities on associated land from which it processes and exports bulbs. The main benefits that are likely to result from this investment are economic in the form of new jobs, increased export receipts and capital investment. Consent was granted as the Applicant has met the investor test criterion and the investment is likely to benefit New Zealand. |
| More information | Robert Huse Anderson Lloyd Lawyers (Queenstown) PO Box 201 Queenstown 9300 |
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