| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Date | 1 March 2016 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 3,551 hectares of land at Braemar Road, Lake Tekapo (Guide Hill Station). |
| Consideration | $16,500,000 |
| Applicant | Blue Lake Investment (NZ) Limited Hong Kong (SAR) (100%) |
| Vendor | Guide Hill Station Limited David & Marion Gould, NZ (100%) |
| Background | The Applicant intends to continue to run and improve the current farming operation on Guide Hill Station in conjunction with the Vendor family. In addition, the Applicant intends to further develop Guide Hill Station for tourism (through new accommodation and other visitor facilities) and for academic research (a new crop research facility operated in conjunction with Lincoln University) at a total cost of $5.6 million. The Applicant also intends to donate $410,000 to three community organisations over three years (being Lincoln University, the A2O cycleway and the Mackenzie Trust). 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 Overseas Investment Regulations 2005 |
| More information | Graeme Todd GTodd Law P O Box 124 Queenstown 9348 |