Applicant
Kaiwera Farm Limited Partnership
Case number(s)
201110092
Decision date
Type
Decision
DecisionConsent granted
Section 12(a) Overseas Investment Act 2005
Decision date26 October 2011
InvestmentAn overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 227.3247 hectares of land at 1396 Waipahi Station Rd, Gore.
Consideration$3,370,000
ApplicantKaiwera Farm Limited Partnership
Aquila AgrarINVEST Investitions GmbH, D/S Neuseeland Milchfarm Investitions GmbH and Alceda Star S.A., Germany (100.0%)
VendorTimaru Michael Morris & Caroline Millo Morris as trustees of the Bluecliff Trust
New Zealand (100%)
Background

The Applicant is acquiring the property in order to convert 111 hectares into a dairy platform. The property will then be amalgamated with the neighbouring farm to be run as a single dairy farm of 326 hectares, with another 106 hectares to be used as a run-off.

The overseas investment transaction has satisfied the criteria in section 16 of the Overseas Investment Act 2005. The 'substantial and identifiable benefit to New Zealand' criteria were satisfied by particular reference to the following factors:

Overseas Investment Act 2005
17(2)(a)(i) – Creation/Retention of jobs
17(2)(a)(iii) – Increased export receipts
17(2)(a)(iv) – Greater efficiency or productivity
17(2)(a)(v) – Additional investment for development purposes
17(2)(a)(vi) – Increased processing of primary products
17(2)(c) – Enhancement of trout, salmon, wildlife and game habitats
17(2)(f) – Offer to sell riverbed to the Crown

Overseas Investment Regulations 2005
28(e) – Previous investments
28(i) – Economic Interests
28(j) – Mitigating Factor

More informationNicholas Russell
Chen Palmer
P O Box 2160
WELLINGTON 6015