Overseas investment decision for case 200720034 - PH2 Developments Limited

The application has been approved as it met the criteria.

The Overseas Investment Office is satisfied that the individuals with control of the Applicant collectively have business experience and acumen relevant to the overseas investment, and that the Applicant has demonstrated financial commitment towards the overseas investment. The Overseas Investment Office is further satisfied that each individual that exercises control over the Applicant is of good character and is not an individual of the kind referred to in section 7(1) of the Immigration Act 1987.

Background:
Mr and Mrs Hodskinson, the directors and shareholders of PH2 Development Limited (PH2), wish to focus their attention on their New Zealand business, which is to build energy efficient homes. Mr and Mrs Hodskinson feel that this property provides them with a good opportunity to start their business venture.

Outline of Proposed Development:
Mr and Mrs Hodskinson, as part of the plan to purchase land and build a house also wish to regenerate native bush. If stock were to be excluded the pasture land would quickly begin to revert to regenerating bush. Mr and Mrs Hodskinson's aim is to find suitable land to build an energy efficient home using all modern technology available. The concept is to build homes to a standard that provide all, or nearly all, their own energy through solar heat collection coupled with high levels of insulation. This is to be combined with rainwater storage, grey water recycling and reed bed sewage filtration.