| Decision | Consent Granted Section 12(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 09 April 2025 |
| Pathway | Sensitive land - Residential land development (More than one purpose - One-off purchase) |
| Investment | Acquisition of a freehold interest in approximately 1.5560 hectares of residential land at 49 Racecourse Road, Cambridge |
| Consideration | $3,100,000 |
| Applicant | Cambridge Racing Limited Malaysia 100% |
| Vendor | Trent Logan Busuttin |
| Background | The Applicant is a recently incorporated New Zealand limited liability company, ultimately owned solely by Kean Huat Chew, a Malaysian citizen. The Applicant is buying the land to establish a business to house and train thoroughbred horses, prior to their sale and potential export. Consent was granted as the Applicant has met the investor test criterion and the Investment is likely to meet the incidental residential use and non-residential use tests. |
| More information | Christina Lefever Lefever Law www.lefeverlaw.co.nz |