| Decision | Consent granted Section 12(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 11 October 2022 |
| Pathway(s) | Sensitive land – Farm land benefit test |
| Investment | A leasehold Interest in approximately 9.5112 hectares of land 9.51 hectares of land located at Swamp Road, Puketapu, Hawkes Bay (Lloyds Block). |
| Consideration | Withheld under section 9(2)(b)(ii) of the Official Information Act 1982 |
| Applicant | T&G Global Limited Germany 74% Honk Kong 20% Various 6% |
| Vendor | Moffett Holdings Limited New Zealand 100% |
| Background | The Applicant is a New Zealand-incorporated grower, distributer, marketer and exporter of a variety of fresh produce including apples. The Applicant’s wholly owned subsidiary, ENZA Fruit New Zealand International Limited, will acquire the lease and develop the land which is currently bare land. The Applicant will plant and grow high value Envy or Joy apples using the 2D planting system. We are satisfied that the development of the land is likely to result in substantial economic benefit to New Zealand, through increased production export receipts, and capital expenditure of $2.7 million. Consent was granted as the Applicant has met the investor test criterion and the benefit likely to occur as a result of the Investment will result in benefit to New Zealand. |
| More information | Rachael O'Malley Russell McVeagh (Auckland) PO Box 8 Auckland 1140 |