Decision Summary - Hancock (Andrew Robert) & Erakovic (Eleanor Maria)

Decision number	200810052
Application number	200810024
Date	29 May 2008
Offeror/applicant	Hancock (Andrew Robert) & Erakovic (Eleanor Maria)
Ultimate applicant beneficial ownership	50 percent - Australia, Hancock (Andrew Robert) 50 percent - Australia, Erakovic (Eleanor Maria)
Beneficial overseas ownership
- Asset current	0 percent
- Asset proposed	100 percent
- Share current	N/A
- Share proposed	N/A
Offeree(s)/seller(s)	Trueman (Dorothy Clare) and Glennon (Deborah Jane) of New Zealand
Business activities	Lifestyle Property
Details of land involved	13.2402 hectares of freehold situated at Rhodes Road, Manuka Gorge, Clutha, Otago being CT OT13C/799 (Otago Registry).
Regions involved	Otago
Total consideration	$310,000
Consent sought	To acquire an interest in land which, either alone or together with any associated land of that type, is or includes non-urban land and exceeds 5 hectares in area.
Rationale	The application has been approved as it met the criteria. The Overseas Investment Office is satisfied that the Applicants have business experience and acumen relevant to the overseas investment, and that the Applicants have demonstrated financial commitment towards the overseas investment. The Overseas Investment Office is further satisfied that the Applicants are of good character and are not an individual of the kind referred to in section 7(1) of the Immigration Act 1987. Background to the Investment: The Applicants are a married couple who wish to move from Australia to live and work in New Zealand indefinitely. Andrew Hancock is a Senior Legal Officer with the Commonwealth Department of Immigration and Citizenship. His wife, Eleanor Erakovic, is a professional dancer and teacher of dance in Canberra. The Applicants have sold their property in Australia with the intention of immigrating to New Zealand. Outline of the Investment: The Applicants are purchasing the freehold interest in the land and all existing improvements. Rationale for the Investment The land is a lifestyle property. Purchasing it will allow the Applicants to: live in New Zealand indefinitely; commute to work in Dunedin; and raise a small number of Friesian horses on a non-commercial basis.
Contact	Richard Cantrell Rodgers & Associates PO Box 6200 DUNEDIN 9059

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