| Decision number | 200620043 |
|---|---|
| Application number | 200620044 |
| Date | 18 September 2006 |
| Offeror/applicant | Hart (Nigel Martin and Helen June) of United Kingdom |
| Ultimate applicant beneficial ownership | 100 percent - United Kingdom |
| Beneficial overseas ownership | |
| - Asset current | 0 percent |
| - Asset proposed | 100 percent |
| - Share current | N/A |
| - Share proposed | N/A |
| Offeree(s)/seller(s) | Wooster (Terence John and Christine Elizabeth) of New Zealand |
| Business activities | Lifestyle Property |
| Details of land involved | 8 hectares of freehold situated at 191 Bells Road, Blenheim being CT MB4C/309 (Marlborough Registry). |
| Regions involved | Nelson/Marlborough |
| Total consideration | $1,181,250 |
| Consent sought | To acquire an interest in land which, either alone or together with any associated land of that type, is or includes non-urban land and exceeds 5 hectares in area. |
| Rationale | The application has been approved as it met the criteria. The Overseas Investment Office is satisfied that the Applicants have business experience and acumen relevant to and are demonstrating financial commitment towards the investment. The Overseas Investment Office is further satisfied that the Applicants are of good character and not the kind of persons referred to in section 7(1) of the Immigration Act 1987. The Applicants have resided in New Zealand since June 2006 with the intention to reside indefinitely in New Zealand. The Applicants, who have been granted New Zealand Long Term Business Visas, propose to acquire the subject property as a residence and a base for their business. The Applicants are demonstrating a commitment to New Zealand through applying for and taking up New Zealand permanent residency. |
| Contact | Peter Radich Radich Dwyer P O Box 646 BLENHEIM |