| Decision | Consent granted Section 12(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 11 October 2023 |
| Pathway(s) | Sensitive land – Farm land benefit test |
| Investment | Acquisition of a freehold interest in approximately 6.075 hectares of land at 634 Awapuni Road, Matawhero, Gisborne |
| Consideration | $2,246,000 |
| Applicant | Craigmore Accommodation Limited New Zealand 30% Hong Kong 20% Germany 19% United States of America 5% Canada 5% United Kingdom 5% Various 16% |
| Vendor | Awapuni Citrus Limited New Zealand 100% |
| Background | The Applicant is a New Zealand limited partnership ultimately controlled by Craigmore Sustainables Management Group, a group of companies invested in New Zealand farmland and forestry assets. The land is currently used as a citrus orchard. The Applicant intends to develop accommodation for seasonal horticulture workers. The investment is likely to result in greater accommodation supply, increased export earnings and job creation. Consent was granted as the Applicant has met the investor test criterion and the benefit likely to occur as a result of the investment is likely to benefit New Zealand. |
| More information | Christina Lefever Lefever Law christina@lefeverlaw.co.nz |