| Decision |
Consent granted |
|---|---|
| Decision maker | The Minister for Land Information and the Associate Minister of Finance |
| Decision date | 28 July 2023 |
| Pathway(s) | Sensitive land – Benefit test |
| Investment | Queenstown Hotel Investments Limited - Acquisition of 8,443 square metres of land - 146 Arthurs Point Road, Arthurs Point, Queenstown 9371 |
| Consideration | $20,125,000 |
| Applicant |
Queenstown Hotel Investments Limited |
| Vendor | Waterfall Queenstown NP Limited New Zealand 100% |
| Background |
The Applicant is a subsidiary of the New Zealand company New Bay Group Limited. New Bay Group Limited have developed and owned hotels in New Zealand for more than 25 years. The Applicant is purchasing the Nugget Point Hotel, which is located at Arthur's Point Road, Queenstown. The Applicant intends to upgrade that hotel to a five star resort. This will involve additional spending and will create additional jobs in the Queenstown area. Consent was granted consent as the Applicants have met the investor test criterion and that the benefit likely to occur as a result of the Investment would result in benefit to New Zealand. |
| More information |
Carole Smith |
| Assessment report |
See the attached Assessment report linked below, which was published in response to an Official Information Act request: Queenstown Hotel Investments Limited Overseas Investment application and assessment reports |
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