| Decision | Consent granted Section 12(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 01 April 2026 |
| Pathway | Sensitive land - Farm land benefit test |
| Investment | Acquisition of freehold interest in approximately 288.1 hectares of land located at 69 Titirangi Road, Kenepuru Sound, Marlborough. |
| Consideration | $4,245,000 |
| Applicant | Sjerp William Ysselstein as trustee for The Marlborough Family Estate Trust United States of America 100% |
| Vendors | RW Hopkinson and EJ Hopkinson-Young Partnership New Zealand 100% |
| Background | Land Information New Zealand (LINZ) has granted consent under the Overseas Investment Act to Sjerp William Ysselstein as trustee for The Marlborough Family Estate Trust to buy around 288 hectares of farm land in Marlborough. The land is currently a sheep and cattle breeding and finishing farm. The land has been bought with the intention of converting it into a beef finishing farm using barn systems for feeding. Overseas Investment Act consent allows the purchase of land; it does not give authorisation to commence operations as a beef finishing farm. Consent under the Resource Management Act will be required before the conversion can take place and the new farming operation can commence. This process has not yet started. The process will be managed by the local authority who are best placed to consider any environmental impacts or other impacts such as traffic volumes, as well as how they would be managed. The consent to purchase the land under the Overseas Investment Act is conditional on consent under the Resource Management Act being granted. This application was considered under the Overseas Investment Act’s farm land benefit test. The benefit of the investment needed to be likely to result in a substantial benefit to New Zealand. In this case, through capital investment, creation of employment and increased export receipts. Consents granted under the farm land benefit test are subject to conditions. In this case, the consent is subject to conditions requiring the land to be converted into a beef finishing farm utilising barn systems for feeding. This includes obtaining any necessary resource consents and undertaking the development. The conditions need to be met by 30 April 2030. If the consent holder does not comply with a condition of their consent there are several enforcement outcomes available, which may include being required to sell the land. More information on the farm land benefit test is available here: Consent was granted as the Applicant has met the investor test criterion and the investment is likely to benefit New Zealand. |
| More information | Catherine Reid, Barrister catherine@catherinereid.co.nz |