| Decision | Consent granted Section 12(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 30 September 2024 |
| Pathway | Sensitive Land – Farmland benefit test |
| Investment | Acquisition of a freehold interest in up to 124 hectares of land at 3579 State Highway 63, Wairau Valley, Marlborough |
| Consideration | Withheld under section 9(2)(b)(ii) of the Official Information Act 1982 |
| Applicant | Beehive Demetra Limited Germany 45% United Kingdom 15% Europe Region 20% North America 19% Various 1% |
| Vendor | Shalev Estate Limited New Zealand 100% |
| Background | The Applicant is a subsidiary of Münch Re, a German reinsurance company, and will be managed by New Zealand company Craigmore Sustainables NZ Limited. The Applicant is acquiring a 40-hectare vineyard and additional farm land used for grazing. The Applicant intends to expand the size of the vineyard by planting an additional 44 canopy hectares of Sauvignon Blanc vines. The main benefits to New Zealand are likely to include increased jobs, increased export receipts and capital expenditure. 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 PO Box 33064 Barrington, Christchurch 8244 |