Decision Summary - Shorten (Peter and Susan Lorraine)
| Decision number | 200720072 |
|---|---|
| Application number | 200720076 |
| Date | 7 December 2007 |
| Offeror/applicant | Shorten (Peter and Susan Lorraine) |
| Ultimate applicant beneficial ownership | 100 percent - Australia, Australian Public |
| Beneficial overseas ownership | |
| - Asset current | 0 percent |
| - Asset proposed | 100 percent |
| - Share current | N/A |
| - Share proposed | N/A |
| Offeree(s)/seller(s) | Glebe Farming Limited 100 percent - New Zealand, Grant (David James & Roslyn Joy) |
| Business activities | Lifestyle Property |
| Details of land involved | 13.901 hectares of freehold situated at Barkers Road, Methven, Canterbury being CT 301478 (Canterbury Registry). |
| Regions involved | Canterbury |
| Total consideration | $534,375 |
| 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 and are demonstrating financial commitment towards the investment. The Overseas Investment Office is further satisfied that the Applicants are of good character and not the kind of persons referred to in section 7(1) of the Immigration Act 1987 and that the Applicants are intending to reside in New Zealand indefinitely. Outline and Rationale for Proposed Investment: |
| Contact | Zoe Bond Russell Moon & Fail PO Box 22 ASHBURTON |
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